Republican leader John Boehner’s office sends along this eye-opening analysis of the latest jobs numbers, from economist Larry Lindsey:
Employment in support activities for the mining industry was up 3 percent in themonth, or 8,000 workers on top of a 5,000 job gain last month. Given the otherwise flat performance of this sector prior to the start of the spill in April, it is safe to assume that much of these jobs are being created to clean up the mess. So, it could be that as much as 20 percent of the net private sector job creation in May was due to the oil spill. This is not the type of job creation that is the kind that makes one cheery about the long term prospects for the economy.
Oh. I suppose that’s great news, because this oil spill seems to get worse and bigger every day.