🚨 Peter Schiff vs. the Job Market: Truth Bomb or Just More Doom? 💥
Economist Peter Schiff just lit up the internet by trashing June’s job numbers from the U.S. Bureau of Labour Statistics. While the BLS proudly reported 147,000 new jobs, Schiff says 92% were in so-called “non-productive” sectors like government, health, and social services — and he’s not impressed.
💬 “These jobs don’t build exports; they build debt,” Schiff claimed, suggesting that rising employment in these sectors could fuel inflation rather than fix the economy.
But not everyone’s buying his bearish take. Critics fired back, arguing that education, healthcare, and social services are essential pillars of long-term growth. One X user clapped back:
🔥 “You can’t blame teachers for the death of factories. Offshoring and Wall Street did that.”
Even though unemployment fell to 4.1%, Schiff insists the real number is closer to 7.7%, pointing to broader U-6 metrics.
👉 The real debate?
Is America investing in its future, or just padding payrolls with short-term fixes?
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