McJobs Drives Unemployment Numbers for May

Friday greeted President Barack Obama with some bad news in the form of anemic job growth in May, with 54,000 jobs added last month and the national unemployment rate ticking up to 9.1 percent. Analysts had expected some 125,000 jobs to be added in May.

But the numbers only tell half the story. If you're working at one of the new jobs created last month, there's a better than 50 percent chance you're working at McDonald's. That's because the fast food chain went on a hiring spree in April, adding 62,000 positions, with some spilling over into May.

MarketWatch has some analysis:

"Morgan Stanley estimates McDonalds hiring will boost the overall number by 25,000 to 30,000. The Labor Department wont detail an exact McDonalds figure they wont identify any company they survey but there will be data in the report to give a rough estimate. Theres a case to be made for the benefit of fast-food restaurant employment, but its obviously not the foundation for sustained economic growth."