Flickr image courtesy of lamoney.
Today's report of job gains in March has the usual suspects overheated and long-term rates rising a little. Picking up 216,000 new jobs is good news, but New York Federal Reserve President Bill Dudley's reference to recovery as "tenuous" is dead on the mark.
There is a deeper and authentic good-news thread. Beginning circa 1990 the rise of China and the rest of the emerging world began to undercut American labor. We still have a painfully steady 8.4 million people working part-time who cannot find full-t...