The Real Jobs Report

Saw this somewhat light hearted piece today on the May jobs report . Loved the "fake" and "Make believe" description of these reports. The month to month numbers (like the month to month stock market) are very "noisy" and therefore hard to discern much meaning. That aside, even a cursory look at what is behind the numbers portends a disturbing reality. Over 40% of those unemployed have been so for more than 6 months. I suspect some/most of these people may never work again at least in the realm that they were previously. This so called structural unemployment may be a big headwind for the economy for many years to come.