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June 04, 2010

May Jobs Report: Great If You Are Into Huge Numbers Of Temporary Federal Workers

On the other hand it's God awful if you think the private sector is the true engine of prosperity (in other words, you're not a liberal).

The U.S. Labor Department said nonfarm payrolls rose by 431,000 last month, the largest gain since March 2000. That followed an unrevised 290,000 increase in April.

Economists polled by Dow Jones Newswires were expecting payrolls to rise by an even higher 515,000.

However, the May figure was boosted by the hiring of 411,000 temporary workers for the decennial count of the U.S. population. Only 41,000 private-sector jobs were added.

41,000 non-government jobs?

Thanks to the ridiculous formula the government uses, this actually means the official unemployment rate dropped .2% to 9.9% to 9.7%.

If this AP story is any indicator, not even the usually happy talking media (when the Democrats are in charge) are buying it. Though Obama is giving it the old college try.

President Barack Obama acknowledged that temporary census jobs drove the overall payroll gain. But he said private sector hiring is growing. He noted five straight months of job gains after devastating losses from the recession. He said the recovery is still in its early stages, and that it will be uneven in the months ahead.

"Things never go completely in a smooth line," Obama said during a speech Friday. "This report is a sign that our economy is getting stronger by the day."

Via Jim Geraghty, Clinton's Labor Secretary and economic lunatic Robert Reich says we're entering the back half of the double dip recession because the effects of the stimulus is wearing off. His answer of course is...more stimulus.

Spending and more government, those are the only 'economic growth' tools in the liberal playbook.

God help us all.


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posted by DrewM. at 11:29 AM

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