McDonald's Hired More than All of the Rest of the Economy Combined Without McDonald's Hiring Binge, America Would Have Lost Jobs Last Month
McDonald's hiring binge in April is the only reason today's "awful" job numbers weren't devastating.
The only thing keeping America from nationwide job losses last month were the Golden Arches. Contrary to popular belief, McDonald's April hiring binge wasn't counted in the government;s April employment report. Those 62,000 McJobs "created" in the one day HR/publicity stunt are the only reason that America didn't flat out lose jobs according to May's report.
The numbers out today: the U.S. economy created 54,000 jobs, about half what was expected. Unemployment ticked up to 9.1 percent. This bucks a three month trend were the economy created about 220,000 jobs each month, on average.