Enough Said

B: "Payrolls climbed 115,000, the smallest gain in six months, after a revised 154,000 rise in March that was more than initially estimated, Labor Department figures showed today...The participation rate, which indicates the share of working-age [18-65?] people in the labor force, fell to 63.6 percent [so 36.4% out], the lowest since December 1981..."

Meanwhile, financial and technology stocks are way up year-to-date:

Brooks NYT Op-Ed, May 7: "There are several overlapping structural problems. First, there are those surrounding globalization and technological change. Hyperefficient globalized companies need fewer workers. As a result, unemployment rises, superstar salaries surge while lower-skilled wages stagnate, the middle gets hollowed out..."

Tech. stock snapshot, Oct. 8:
Apple $639/share (+)
Microsoft $29/share (-)
IBM $210/share (+)
Google $758/share (+)

All about (more) automation:

 

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