Only McDonald's Saved Us From Losing Jobs

[OhioChick]

Posted Jun 3, 2011 12:25 PM CDT

Just how lousy were today's unemployment numbers? Employers created a meager 54,000 jobs, way under expectations. Alex Goldmark at Good points out that if not for McDonald's one-day hiring binge of 62,000 jobs, the nation would have had a net loss. "That's what makes today's numbers all the more depressing," he writes. "If it weren't for the country's largest restaurant chain going on a burger flipper binge, the reports wouldn't say 'sharp slowdown' they'd say 'reversal' or 'devastating.'"

Other views:

Felix Salmon, Reuters: "The only tiny possible chink of light here is that these numbers are so bad that they might persuade bickering politicians on Capitol Hill to stop playing stupid games with the debt ceiling and start concentrating on important matters. Oh, who am I kidding: We’re in election season now." Until 2013 or so, we'll have to rely on the Fed for salvation, and "that's not a comforting thought."
Rex Nutting, MarketWatch: "A deeper problem for the American economy is psychological. Our animal spirits are depressed, and that has inhibited risk-taking." Look at gold prices for proof. "Who is investing in the real economy? Practically no one."

http://www.newser.com/story/120144/only-mcdonalds-saved-us-from-losing-jobs.html

[provis99]

1. that's unfair; I'm sure WalMart employment helped,too.

[Harmony Blue]

2. The bickering will continue unfortunately

as the theatrics still have some time left till August. I don't expect any new job plans from the government till then.

[Autumn]

3. Time to buy a Big Mac

:shrug: it would be a shame if they had to lay off any employees.

[xchrom]

4. Recommend

[wtbymark]

5. just want to say that McD's hires 50k people every year

thats their turnover rate. they just made a big publicity hoopla out of it this year because of the economy.

[Harmony Blue]

8. Thank you for this tidbit of information

I suspect you are correct because that turnover rate aligns with what you see in other retail industries (eg super market chains).

[rustydog]

10. You're right. This time they put it out to the media to look like

they were stepping up and doing the country a favor. They were only hiring summer help, which they do every year. These jobs will end when school startsup again...

[ohnoyoudidnt]

6. It would be nice to see more detailed numbers on job creation.

For example, the average income for the millions of jobs we lost in the recession, and the average income for the jobs that have been created since then. We know that underemployment and wealth disparity are growing problems, then there is inflation which makes matters worse (I suspect a big reason our GDP is even increasing). I haven't seen and specific numbers showing how bad it really is.

[Coyote_Bandit]

7. Real economies show real productivity

We don't have that here. Instead we have a bunch of fucking hucksters and some damn stupid shoppers.

We really should quit pretending that anyone is trying to fix or improve the Main Street economy. They're not.

[ChromeFoundry]

9. Saved us from job loss for a month...

Killed us with Fat, High-Carbs, Sugar and Sodium...

[defendandprotect]

11. Did I hear correctly that more than 900,000 people showed up for those jobs?

It's just a financial meltdown -- not a depression, tho -- !!


:eyes:

[sendero]

12. "green shoots" , "recovery summer".....

....keep buying the bullshit at your peril. There is no recovery.