Jobs Report Shows Weak Private Sector Hiring

U.S. private employers hired fewer workers than expected in May, a setback for the labor market recovery, even as temporary census hiring pushed overall payrolls growth to its fastest pace in 10 years.

The Labor Department said on Friday payrolls rose 431,000 as the government hired 411,000 workers to conduct the population count. That was the largest monthly increase since March 2000 and marked a fifth straight month of gains.

cnbc.com/id/37507250

Virtually all the job creation in May came from the hiring of 411,000 census workers. Such hiring peaked in May and will begin tailing off in June. By contrast, hiring by private employers, the backbone of the economy, slowed sharply.They added just 41,000 jobs, down from 218,000 in April and the fewest since January.

Hmm, a ten to one ratio (10:1) of public to private sector employment. For every public sector job that actually brings money INTO the economy there are ten jobs that are being paid for by the money coming in from private sector employment. Not a good picture at all! No wonder the stock market fell 300 points on the employment news.

9 out of 10 of those yobs were Government yobs-Thanks to the Census.

Oh well. As long as Obama’s happy.

God Bless.
+Jesus, I Trust In You.
Love, Dawn

[quote="gilliam, post:1, topic:200689"]
U.S. private employers hired fewer workers than expected in May, a setback for the labor market recovery, even as temporary census hiring pushed overall payrolls growth to its fastest pace in 10 years.

[/quote]

The weakening of foreign currencies has cost us increased hiring as our exports of products and services have been hurt. But I wouldn't knock temporary hiring as that's all we're going to have from now on. The number of permanent positions have been fewer and fewer for a long time.

During the Great Depression, FDR created some public works projects as well. As did Herbert Hoover with his Hoover Dam project. Didn’t translate into an improved economy immediately but it sure created a boom 10 to 20 years later in Nevada and surrounding states.

I for one wouldn’t mind seeing a big wind power investment in some of the fly-over states.

[quote="RoncalliM, post:6, topic:200689"]
I for one wouldn't mind seeing a big wind power investment in some of the fly-over states.

[/quote]

We have wind turbines on many farms west of me and on very windy days they are locked (I don't know why, you'd think that'd be optimal time to have them working).

[quote="ProVobis, post:5, topic:200689"]
During the Great Depression, FDR created some public works projects as well. As did Herbert Hoover with his Hoover Dam project. Didn't translate into an improved economy immediately but it sure created a boom 10 to 20 years later in Nevada and surrounding states.

[/quote]

Click Here: FDR's policies prolonged Depression by 7 years, UCLA economists calculate

Two UCLA economists say they have figured out why the Great Depression dragged on for almost 15 years, and they blame a suspect previously thought to be beyond reproach: President Franklin D. Roosevelt.

After scrutinizing Roosevelt's record for four years, Harold L. Cole and Lee E. Ohanian conclude in a new study that **New Deal policies *signed into law 71 years ago *thwarted economic recovery for seven long years**.

"Why the Great Depression lasted so long has always been a great mystery, and because we never really knew the reason, we have always worried whether we would have another 10- to 15-year economic slump," said Ohanian, vice chair of UCLA's Department of Economics. "We found that a relapse isn't likely unless lawmakers gum up a recovery with ill-conceived stimulus policies."......

God Bless.
+Jesus, I Trust In You!
Love, Dawn

[quote="RoncalliM, post:6, topic:200689"]
I for one wouldn't mind seeing a big wind power investment in some of the fly-over states.

[/quote]

Yeah, well we welded one of those to the roof of the car, but kept becoming airborne.
(just kidding, of course).

God Bless.
+Jesus, I Trust In You!
Love, Dawn

This was just another excuse for reaping profits on news that was expected. Job growth will continue. The Volt ships in November. There need to be more jobs if they want to sell more cars between now and then. In the meantime, car sales were up in May.

The Media of Fear will continue to say the sky is falling.

God bless,
Ed

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