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Job Creation Much Better Than Expected; Rate Hits 9%
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Job Creation Much Better Than Expected; Rate Hits 9%

  #1 (permalink)
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Job Creation Much Better Than Expected; Rate Hits 9%

Employment increased more than expected in April as private companies created jobs at the fastest pace in five years, even though the jobless rate rose to 9.0 percent. Some of the the internals, though, were less encouraging.

More on CNBC...

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  #2 (permalink)
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GoldStandard's Avatar
 
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Those job creation numbers are largely a fiction.

Out of the 244,000 new jobs supposedly created, 175,000 of those were assumed to have been created as a result of population growth under the birth/death model. Another 65,000 of those jobs are McDonalds jobs from their big hiring event. That leaves only about 7k actual non-McDonalds jobs created.

Source: NFP Ex McDonalds And Birth Death: +7k | zero hedge

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  #3 (permalink)
Just a boy
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CNBC correction



GoldStandard View Post
Those job creation numbers are largely a fiction.

Out of the 244,000 new jobs supposedly created, 175,000 of those were assumed to have been created as a result of population growth under the birth/death model. Another 65,000 of those jobs are McDonalds jobs from their big hiring event. That leaves only about 7k actual non-McDonalds jobs created.

Source: NFP Ex McDonalds And Birth Death: +7k | zero hedge

Hmmmm,

CNBC report now corrected: says McDonalds jobs not a factor as they occurred after the close off for this report's reporting period??


Last edited by steve2222; May 6th, 2011 at 08:44 PM. Reason: spelling
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  #4 (permalink)
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whatnext's Avatar
 
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Ugh...

McDonalds Hires 62,000, Turns Away Over 938,000 Applicants For Minimum Wage, Part-Time Jobs | zero hedge

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