SG: Economists watered down expectations to 125,000 jobs created in May after a 244,000 gain in April, after several disappointing indicators, notably the ADP employment gauge and ISM manufacturing poll.
SG: 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.
Get that? They cut the jobs added by almost half, and of that new number, half come from MCDs. Worse yet, how many of those jobs are seasonal? Great economic news! Don’t expect the MSM to point this out.