The unemployment rate fell in May to 9.7%, on the strength of 411 thousand people hired by the government for the Census. If you discount the Census hiring, the unemployment rate actually rose slightly from 9.9% to 10%. It would have risen more, but falling employment (even including the Census) was countered by people leaving the work force.
President Obama put a brave face on the numbers:
“This report is a sign that our economy is getting stronger by the day,” Obama said in remarks to about about 50 workers at a large truck garage in Maryland.
Yeah, as long as the government can hire 411 thousand new workers each month. Er, never mind. Let’s not give them any ideas.
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