Hiring weak in May except for Census workers Economic Report - MarketWatch
WASHINGTON (MarketWatch) -- Nonfarm payrolls grew by a seasonally adjusted 431,000 in May, but virtually all the new jobs were temporary jobs at the U.S. Census, leaving private-sector hiring very weak, the Labor Department reported Friday.
Excluding 411,000 temporary Census workers, payrolls rose by 20,000 in May. According to the survey of 400,000 business establishments, private-sector payrolls increased by 41,000, the fifth straight monthly gain.
"A disappointing private payroll number to be sure," said John Ryding and Conrad DeQuadros of RDQ Economics.
Wall Street celebrated a weak job report early Friday. Job growth slowed dramatically in May and the jobless rate jumped to 4.1 percent, the Labor Department said Friday. Total payrolls grew by 231,000, boosted by 357,000 new temporary census workers. Private employment fell by 116,000, the biggest drop since November 1991. Average hourly wages rose just 0.1 percent to $13.65.
*****This is 15% more temporary census workers than same time period in 2000, even though the U.S. population has only grown by about 10% percent in the same time period (281M in 2000 vs. 309M in 2010 according to Wikipedia ). Has Obama made Census taking less productive? *****
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