"Waitressing is the number one occupation for female non-college graduates in this country. It's the one jab basically any woman can get, and make a living on..."
Already excess # of restaurants, which overexpanded relative to GDP for years. Dining out trends reverse on higher unemployment and higher food prices. Ditto for retail.
Two previous months were revised downward, so maybe in another month or two we will find out that for the month of June that actually ZERO jobs were created!