So, the “very serious people” in Washington and other capitals around the world have decided that we need to reduce deficits, because the financial crisis is over.

Well the employment data seems to show otherwise.

Total payrolls rose by 431,000 last month, but most of that was temporary census employment, the increase in private sector workforce was only 41,000, and you need to create some 100K-125K new jobs each month in order to keep up with natural growth in the labor force.

Add to this the fact that even with improvements, the unemployment claims numbers still suck wet farts from dead pigeons, and I am fairly certain that the “very serious people” are “very seriously wrong people”.