Weak Jobs Report Latest Sign ‘Recovery Is Still Pretty Tepid’
Published: Friday, 4 Jun 2010 | 10:23 AM ET
By: AP and Reuters
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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.
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Wow, what would that make the unemployment rate — 20%?
Sorry, but we need a number that can’t be fudged, and can be audited. Weekly payroll tax receipts? That would show us “employed”.
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