NY Post: The Labor Department reported on Friday that the nation’s economy added only 38,000 jobs in May. The experts expected a modest gain of 150,000 jobs, so the actual figure is like setting off a bomb at a gas station. May’s gain was not only well below the consensus but much lower than the previous two months, whose figures were revised sharply downward. In total, there were actually 59,000 fewer new jobs in March and April than previously estimated. But it gets even worse than that. Of those 38,000 new jobs the government said were created in May, only 25,000 were in the private sector, which means that if it weren’t for the fact that governments somewhere found money to hire people, then growth would have been reduced by nearly a third...
