Friday, June 4, 2010

Sorry. Only The Government Is Hiring.

Employment grew by 431,000 in May, but 411,000 were temporary Census jobs. Private industry isn't hiring. The DOW reacted by closing below 10,0000 for the first time since February 8, 2010. Welcome to the Obama economy.
Total nonfarm payroll employment grew by 431,000 in May, reflecting the hiring of 411,000 temporary employees to work on Census 2010, the U.S. Bureau of Labor Statistics reported today. Private-sector employment changed little (+41,000). Manufacturing, temporary help services, and mining added jobs, while construction employment declined. The unemployment rate edged down to 9.7 percent.

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