Phony Jobs Report Masks Weakening Economy

Friday’s employment report from the government’s Bureau of Labor Statistics (BLS) was cheery but misleading. The top line showed the U.S. economy gaining 272,000 jobs in May, much higher than the 192,000 job gains anticipated by Wall Street, and even higher than the 152,000 job gains reported by human-resources service company ADP two days earlier. ...

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