The Week in Review: May 14, 2016

by Mises Institute

The Bureau of Labor Statistics released the latest job numbers last week and the results were disappointing. Mark Thornton described the numbers as “disturbing,” noting that, outside of the service sector, many “sectors of the American economy are negative in terms of job growth.” Going through the numbers, Ryan McMaken highlighted the troubling stat that 1 in 6 young American men are either jobless or in jail — the tragic consequences of minimum wage hikes and the absurd war on drugs. Of course an additional source of pressure comes from the relentless manipulation of our monetary system, contributing directly to current declines in median income.

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