Evidently the market today agrees on the disturbing and speaking volumes part.
The census does seem to change the picture a lot…
From the Business Insider
The good news: MSNBC just reported 431,000 jobs created, the best increase in ten years.
The bad news: they also reported that 411,000 of those jobs were census jobs.
While states and localities are shedding workers, the federal govt is growing, and as a bonus, I recently read that the number of federal employees making >100,000 bucks doubled last year. Sweeeet.
So here’s what the presdient said (today):
*"In May, the economy added 431,000 jobs. (Applause.) Now, this is the fifth month in a row that we’ve seen job gains. ** . . . *
Now, I want to emphasize that most of these jobs this month that we’re seeing in the statistics represent workers who’ve been hired to complete the 2010 census. So these are temporary jobs that are only going to last until the fall, and that may be reflected in future jobs reports. But even if you put those temporary jobs aside, there’s no doubt that we saw another month of private sector job growth."
I would have preferred if he actually quantified the number of “private sector jobs” in addition to (or instead of) the bloated figure. At least he mentioned the difference. (Roughly 90% of the increase was due to temporary Census workers.) Still, I contend that if these census workers were counted accurately the general outcome is the same: growth, but very small.
Private sector growth is around 40,000 jobs for the reporting period.
During this period however, the sector shedded 30,000; real growth is around 10,000, i.e. zero.
Meanwhile, our government continues to borrow…
“Who is in my home is NONE OF THEIR BUSINESS.”
I assume then that you believe in open immigration and that you disagree with the new law in Arizona.
a government agency, through gross incompetence is affecting the monthly jobs report. This is one of the reports being used by the current Administration to tout an economic recovery.
But it has always been done this way so is the objection to the fact that it has always been done or that the current administration is doing it and if it is the latter, it seems this is just another in a long line of blaming Obama for everything posts.