New Report Says America’s Got Jobs – But Not Really
Madames, we’ve got good news and bad news. The good news, according to the U.S. Department of Labor, is that some of you sisters have j-o-b-s. In fact, the economy added a little over 400,000 jobs in May. Ready for the bad news?
The bad news is: most of the jobs added in May derived from the public sector; more specifically, they were temporary census jobs that will likely expire in June.
The Associated Press/Yahoo! reports:
Virtually all the job creation in May came from the hiring of 411,000 census workers. Such hiring peaked in May and will begin tailing off in June.
By contrast, hiring by private employers, the backbone of the economy, slowed sharply. They added just 41,000 jobs, down from 218,000 in April and the fewest since January.
Quite frankly, this jobs report is reminiscent of the character “Tommy” from Martin. Did he or did he not have a job? Will we or will we not grow jobs in this economy? Stay tuned for the next jobs report.
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