Friday, June 3, 2011

Obama Economy Creates 54,000 Jobs, Mostly At McDonald's

You want fries with those job numbers?
(Weekly Standard) – According to the unemployment data released this morning, the economy added only 54,000 jobs, pushing the unemployment rate up to 9.1 percent. However, this report from MarketWatch suggests data is much worse than that:
McDonald’s ran a big hiring day on April 19 — after the Labor Department’s April survey for the payrolls report was conducted — in which 62,000 jobs were added. That’s not a net number, of course, and seasonal adjustment will reduce the Hamburglar impact on payrolls. (In simpler terms — restaurants always staff up for the summer; the Labor Department makes allowance for this effect.) Morgan Stanley estimates McDonald’s hiring will boost the overall number by 25,000 to 30,000. The Labor Department won’t detail an exact McDonald’s figure — they won’t identify any company they survey — but there will be data in the report to give a rough estimate.

1 comment:

Mr. Kitty Cat said...

Now it is official Obama is supporting the circus and a host of other side shows. I heard that Biden was told that he was driving the smart car packed with 100 midgets too. There was so many since they knew their chiropractic care would be covered under their real insurance.