WOW, 431,000 new jobs in May 2010 and unemployment down to 9.7%.
Now comes the double wow … 441,000 were temporary government census jobs. You heard that correctly, that means only 41K jobs created in the private sector. What a didaster.
Payrolls rose by 431,000 last month after a 290,000 increase in April, figures from the Labor Department in Washington showed today. The gain was smaller than the 536,000 median forecast in a Bloomberg News survey and reflected a 411,000 jump in government hiring of temporary help for the 2010 census. Private payrolls rose a less-than-forecast 41,000. The unemployment rate fell to 9.7 percent as Americans dropped out of the labor force.
It’s official, it is a jobless recovery.This is just terrible jobs news as all of the 441K census jobs will be ending at the end of the summer. The markets are going to get hammered on this terrible jobs news. But wait, creating jobs was Obama’s #1 priority in his second year of his Presidency. That is when he is not thinking about the BP oil spill. Or if he is not golfing or paying tribute to Paul McCartney.
This Census worker claims that the job numbers are inflated.