Friday, June 4, 2010
BREAKING: May unemployment rate at 9.7%, situation is not good
Good morning. You may be hearing positive reports about this morning's BLS jobs numbers, which show that the U3 unemployment rate fell from April's 9.9% to May's 9.7% and that 431,000 jobs were created.
411,000 of those jobs were temporary positions with the US Census. While those are indeed "real jobs", they're not permanent. This is a cause for concern, I'd think.
The invaluable Calculated Risk suggests that the fall in the unemployment rate has to do with a lowered number of participants in the job market. As CR continues analysis, I'll pass it along. Finally (to end on a sort-of good note), the broader U6 unemployment rate fell from 17.1% to 16.6%. Thank God for small blessing.
411,000 of those jobs were temporary positions with the US Census. While those are indeed "real jobs", they're not permanent. This is a cause for concern, I'd think.
The invaluable Calculated Risk suggests that the fall in the unemployment rate has to do with a lowered number of participants in the job market. As CR continues analysis, I'll pass it along. Finally (to end on a sort-of good note), the broader U6 unemployment rate fell from 17.1% to 16.6%. Thank God for small blessing.
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chemjobber,
ReplyDeleteI am wondering if you know a good resume review and writing service for organic chemistry/phd background
You know, I don't know. Let's ask.
ReplyDeleteI really wish there were graphs for "State Supported Individuals" (Welfare, public employees, SS, etc) "Privately Supported Individuals" (Business owners, employees of privately owned companies, etc) and "Dependents" (Children, and other people who choose not to work). This would definitely clear up what exactly this job market consists of and whether it means much for those of us who seek employment with private firms.
ReplyDeleteThe incredible spending by govt must be having a positive effect on employment. But we should all be asking ourselves: Should we really feel comfortable with a recovery that consists of govt work? Seems just like another painful bubble...
More Sheri Sangji news:
ReplyDeletehttp://sciencecareers.sciencemag.org/career_magazine/previous_issues/articles/2010_06_04/caredit.a1000057
It's in there, her mother Naveen, spoke in Washington.
Thanks, AlchemX, for the news.
ReplyDeleteN.B. Naveen is her sister.
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