U.S. economic outlook
May 29, 2011, 9:00 a.m. EDT
May payrolls report really about McJobs
Expectations are that pace of job growth slowed in May
By Steve Goldstein, MarketWatch
WASHINGTON (MarketWatch) — For over two decades, the term “McJob” has been used as code word for the kind of low-paying, low-skilled employment that all too often has characterized the opportunities available in an economy with an eroding manufacturing base.
But the May payrolls report, due Friday from the Labor Department, really will be influenced by hiring from McDonald’s
On April 19 — about a week after the government conducted its survey for the April jobs report — the hamburger chain ran a promotion designed to hire 50,000 workers. In fact, the fast food giant hired 62,000, most of whom will receive just a little above the federal minimum wage.
Full article: http://www.marketwatch.com/story/may-payrolls-report-really-about-mcjobs-2011-05-29
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