Friday, June 04, 2010

Envisioning Employment: Employment Situation May 2010

Today’s Employment Situation Report showed that net nonfarm payrolls increased 431,000 primarily as a result of a whopping addition of 411,000 temporary Census jobs while private nonfarm payrolls only increased by a mere 41,000 and the unemployment rate declined slightly to 9.7%.

It's important to note that private sector jobs appear very weak increasing only .04% since last month and remaining 0.85% below the level seen last year and a whopping 6.90% below the peak level of employment seen in December 2007.