Once again we're faced with a dismal monthly jobs report.
In fact, even CNBC calls April jobs growth "meager."
The total employment level for April actually fell by 169,000.
What's happening?
People are simply giving up.
More and more of them are not even looking for work.
The number of discouraged workers is approaching ONE MILLION, a 12% increase!
And those working part time for economic reasons surged 181,000, a nearly 8% increase.
"We are stuck with labor demand that is just too darn weak," economist Jared Bernstein said on CNBC's "Squawk Box." "I'm not pleased with what I'm seeing."
Indeed, no one should be pleased with it.
This is NOT a recovery -- not by an reasonable measurement.
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