Pethokoukis on the 873,000 jobs added last month:
in June 1983, the economy added about 900,000 jobs, according to that same household survey. During the second quarter of 1983, the quarter that month falls in, the economy grew at an astronomical 9.3% annual rate…Right now, in the third quarter of 2012, economists think the economy is growing at an an anemic 1.5% or so. So the economy was growing six times as fast in 1983 when it was adding that many jobs.
Pay no attention. All is well.