The standard of living for many Americans continues to drop as the Bureau of Labor Statistics released its monthly jobs report.

Get this, and here's the spin. Jobs in the low paying services sector (professional and business services, food services, and health care) gained in November; while employment for higher paying jobs (construction and manufacturing) continue to decline.

The financial news media continues to celebrate the fact that an increase in jobs paying minimum wage and slightly higher, is better than the loss of jobs in construction and manufacturing paying $15-20/ hour or higher. I just don't get it. Here is another example of Wall Street continuing to celebrate bad news as good.