On Friday, the Bureau of Labor Statistics (BLS) released its monthly Employment Situation Report. On balance, it contained little good news for struggling American families on Main Street.
The good news is that the economy added jobs and the unemployment rate dipped slightly during January. BLS estimates that the economy created 113,000 nonfarm payroll jobs and 142,000 private sector jobs, while the unemployment rate dipped to 6.6%.
The bad news is that private sector job creation continues to lag behind most other economic recoveries. And according to the Congressional Budget Office (CBO), the policies of the Obama Administration, especially the Affordable Care Act (ACA), are disabling economic growth and job creation.
See the full JEC Staff Analysis attached in pdf format below: