Employment report from Shedlock

Mish does good work when he is not yelling at the top of his lungs about returning to the gold standard:

Total nonfarm employment shows the nature of the jobless recovery. Jobs are expanding barely enough to hold the unemployment rate constant, and it has taken a declining participation rate to do that.

Total nonfarm employment picked up nicely early- to mid-2010 but most of that was part-timework for Census data gathering. The net effect is that employment growth was overstated through May, then understated the next few months as those workers were let go.

Total private employment has been growing at a reasonable clip, but not in comparison to previous recoveries that averaged 200,000 jobs a month.

Twenty-six percent of jobs growth in 2010 has been from temporary help services.