Employment: Hmmm…

The screambox says….
Total nonfarm payroll employment increased by 209,000 in July, and the unemployment rate was little changed at 4.3 percent, the U. S. Bureau of Labor Statistics reported today. Employment increased in food services and drinking places, professional and business services, and health care.
Oh look – we get people drunk, feed ’em unhealthy food and then suck up more of GDP in overpriced, monopolist “health care”.
In fact that’s been good for 327,000 “jobs” over the last year. You need look no further for what’s wrong with health care in America; nearly all of those jobs have never and never will provide one second of actual care to an actual person — they’re almost all administrators.
Remember, the usual bleat is that we don’t have enough doctors and nurses. Well if that is true then we have added 327,000 worthless “employees” over the last year that simply serve to vacuum all the money out of your wallet. We cannot address the cost of “health insurance” without addressing this issue, and doing so trashes the so-called “robust employment situation.”

This post was published at Market-Ticker on 2017-08-04.