With Obama yet again on TV, taking credit for the Fed’s reflation of the stock market as somehow indicative of an economic “recovery” (“fiction peddlers” not allowed in the crowd), here is another way of showing the unprecedented transformation in the US labor pool: since December 2014, the US has added just under 450,000 waiters and bartenders, and no manufacturing workers.

Behold: “Obama’s recovery.”

And here is the longer-term picture, going back to the start of the crisis in December 2007: please do not “peddle fiction” upon seeing this chart.


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