⚠️ Peter Schiff Slams U.S. June Jobs Report — Calls 92% of New Jobs “Non-Productive” 🇺🇸💼
The U.S. added 147,000 jobs in June, beating expectations. Unemployment dipped to 4.1%.
But economist Peter Schiff isn’t buying it.
🔍 Schiff’s Criticism:
• Claims 92% of new jobs were in government, health, and social services—which he calls “non-productive.”
• Warns this growth could fuel government debt & inflation, not economic strength.
• Says the real unemployment rate (U-6) is 7.7%, calling the 4.1% figure misleading.
💬 The Pushback:
Critics argue Schiff ignores the importance of teachers, nurses, and public services in supporting the economy.
One user fired back: “Cutting nurses won’t bring factories back. Fix education & infrastructure first.”
📊 Meanwhile, markets and some economists welcomed the stronger-than-expected data, despite concerns over rising long-term unemployment.
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👉 What do you think:
Are we creating the wrong kinds of jobs?
Or is Schiff missing the bigger picture of a modern economy?
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