09 Jun '11, 7pm

McJobs: Hiring at McDonald's accounted for about 1/2 of the nation's job growth in May:

McJobs: Hiring at McDonald's accounted for about 1/2 of the nation's job growth in May:

As American as Baked Apple Pie. Photo: Keoni 101 Cross-posted from Mother Jones . Up to 30,000 of the 54,000 jobs created in May were the result of a hiring spree by the hamburger chain, analysts at Morgan Stanley told Market Watch on Friday. So hiring at McDonald's accounted for about half of the nation's job growth in May. What lessons can we draw from this? One, obviously, is that the economy is anemic and lurching toward a "double dip" -- which isn't some new dessert concoction at McDonald's. While unemployment hovers at 9 percent, job creation has slowed to a trickle -- and what jobs are on offer tend to be of the burger-flipping, minimum-wage variety. As CBS Market Watch Washington Bureau Chief Steve Goldstein put it , "There's a case to be made for the benefit of fast-food restaurant employment, but it's obviously not the foundation for sustained economic growth." T...

Full article: http://www.grist.org/food/2011-06-09-its-the-mceconomy-st...

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