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CNBC has some analysis on what jobs were created at : https://www.cnbc.com/2020/06/05/record-job-gains-heres-where-the-jobs-are-in-one-chart-may-2020.html https
by fdye 6y ago
CNBC has some analysis on what jobs were created at : https://www.cnbc.com/2020/06/05/record-job-gains-heres-where-the-jobs-are-in-one-chart-may-2020.html https://www.cnbc.com/2020/06/05/record-job-gains-heres-where...
Looks like vast majority were in hospitality. Unfortunately, the warning sign is ~-500K in government sector. One of the major things that drew out the last recession was a significant decline in jobs for government employees month to month as tax revenue dried up.
While at this point any good news is welcome. The fact we are seeing an increase in hospitality, which typically are hourly with little/no benefits, for government jobs, which typically are more professional with good benefits, should be worrying. My non-expert analysis thinks it means the COVID-19 recession is becoming more systemic.