62,000 McJobs aren’t going to help prop up the housing sector, which officially fell into double-dip territory last month.
UPDATE: There’s some doubt as to whether the McJobs were included in the April report, contributing to the relatively paltry 244,000 jobs “added.”
The reality, however, is that none of those new McJobs were included in the April report. The report refers to the pay period that includes the 12th of the month, which in April was a Tuesday. “National hiring day,” however, wasn’t until the following Tuesday, April 19. In other words, all those new burger flippers and french friers won’t get counted until the May jobs report.
Either way, 244,000 would be OK if the economy were chugging along, but with everything else in the crapper 244,000 jobs in a month is not going to generate a recovery.
Back to the original post:
Still, the AP is anxious to cheer-lead the he-man Osama killing wonder boy to deflect from his complete failure on jobs and the rest of the economy. No mention of McDonald’s in their article.
The gains were widespread. Retailers, factories, financial companies, education and health care and even construction companies all added jobs. Federal, state and local governments cut jobs.
One quarter of the jobs were flipping burgers.
The AP tries to explain away the uptick in the Unemployment Rate.
The government uses a separate survey to calculate the unemployment rate, and sometimes those surveys diverge from month to month.
Interesting that when a Democrat is in office and those “surveys diverge,” the focus of their article is always the survey that benefits him most.