Just when it seemed like the Fed had its guns loaded and was ready to raise interest rates again at its June meeting, the jobs market jammed the action with the shocking news that, not only had the economy added just 38,000 jobs in May, but that the March and April jobs were overstated by 59,000.
This brought average job growth over the last three months down to a pathetic average of 116,000, confirming my view that the economy is stuck in the mud under the growing weight of too much debt and regulation.