Today, the Fed's announced that the economy grew about 54,000 jobs and that McDonalds created half of those jobs.
From The Weekly Standard: According to the unemployment data released this morning, the economy added only 54,000 jobs, pushing the unemployment rate up to 9.1 percent. However, this report from MarketWatch suggests the data is much worse than that:
McDonald’s ran a big hiring day on April 19 — after the Labor Department’s April survey for the payrolls report was conducted — in which 62,000 jobs were added. That’s not a net number, of course, and seasonal adjustment will reduce the Hamburglar impact on payrolls. (In simpler terms — restaurants always staff up for the summer; the Labor Department makes allowance for this effect.) Morgan Stanley estimates McDonald’s hiring will boost the overall number by 25,000 to 30,000. The Labor Department won’t detail an exact McDonald’s figure — they won’t identify any company they survey — but there will be data in the report to give a rough estimate.
http://www.weeklystandard.com/blogs/half-last-months-jobs-came-single-employer-mcdonalds_573220.html
So, what happened to the predictions of unemployment would never go over 8.5% if we did what Obama wanted? How many months in a row has the unemployment been over 8.5%?
Can we now say that Obama, Reid and Pelosi's mamagement of the economy has beeen pitiful and an embarrassment?
But I am sure that Obama, Reid and Pelosi will keep on blaming Bush and the Republicans and not take responsibility for anything.
Obama: WPE (worst president ever)
Reid: Worst Senate Majority Leader Ever
Sunrise — 6:57.
1 hour ago
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