The latest jobs numbers are in and the USA gained over 400,000 in May. But only about 40,000 were from the private sector, as hundreds of thousands of temporary workers are being hired by the government to conduct the Census.
The USA's economy needs around 150,000 new jobs a month just to keep the unemployment rate from going up.
If we're looking to cut the unemployment rate from around 10% to a more desirable 5%, we need a lot more than 40,000 private sector jobs each month.
An investing and financial strategies blog offered by Gary Partoyan, veteran financial advisor and owner of Potomac Wealth Strategies, LLC.
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