Friday, June 04, 2010

But.... But... The Jobs went up?

The Dow is in a complete free fall right now, but the unemployment went down from 9.9% to 9.7%. The problem? Yahoo article explains below

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.


Ah so basically its a inflation that won't last.

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