Surprise, surprise--the stock market is down again because there are no jobs! According to the latest employment reports, 431,000 jobs were added to the economy in May. However, this amount was much lower than expected, and Census hiring accounted for 96% of it. 96% of 431,000 = 411,000 Census jobs.
I wonder how many of the remaining 20,000 jobs added were temp positions??
My guess is that many full-time, "permanent" jobs were actually lost in May, and this loss was only slightly offset by the Census and temporary positions added. What happens when the Census tallying is over?
http://articles.moneycentral.msn.com/Investing/Dispatch/market-dispatches.aspx?post=1765590&_blg=1,1765590
Subscribe to:
Post Comments (Atom)
Hi there!!! Misery loves company....so hello!!! I have to tell ya that here in Georgia the Education System is affected by a shortfall of money pouring into out system from the State. So many many teachers were let go at the end of May. Can't wait to see the unemployment figures for June as those numbers will be reflected there!!!
ReplyDelete