Unemployment Rate May = 9.7% (drop)Department of Labor breaks down these numbers as this:
431,ooo new jobs
411,000 jobs were for Census (see previous posts)
1000 jobs were non-Census federal jobs
41,000 jobs were in the private sector
they had hoped for 100,000 private sector jobs (what they need every
month to end recession)
That means that in order to save money, employers simply let their employees work more instead of having to go thru the crud that comes with hiring someone new.
hours worked/week went up .1%
34.1hrs/wk to 34.2 hrs/wk
stayed the same = 382,ooo more jobs to cover hours
But the big worry is the lack of private sector jobs -- they have always said they HAVE to have a growth of 100,000 jobs in the private sector in order to reach the levels we were at before the "sky is falling" democrats started screaming & running around.
And in order to pay for all those programs that they just passed ....
otherwise we will end up like Greece & France