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Thread: U.S. Economy Gained 126,000 Jobs in March, an Abrupt Slowdown in Hiring

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    U.S. Economy Gained 126,000 Jobs in March, an Abrupt Slowdown in Hiring

    'The labor marketís yearlong streak of robust monthly job creation was broken on Friday with the Labor Departmentís report that employers added just 126,000 workers in March, a marked slowdown in hiring that echoed earlier signs of a winter pall on the economy.'

    ...

    In the Bureau of Labor Statistics report Friday, it revised its previous estimates for February and January, subtracting 69,000 jobs from the first quarterís total. And there was also no sign that the millions of American who have disappeared from the work force were returning, as the labor participation rate ó which includes those who have jobs and those who are looking ó remained unchanged at 62.7 percent.'

    http://www.nytimes.com/2015/04/04/bu...ent-march.html



    Ouch.

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    Re: U.S. Economy Gained 126,000 Jobs in March, an Abrupt Slowdown in Hiring

    Btw, although the average hourly earnings were up for the month, the numbers of hours dropped and so did the weekly earnings.

    Employment Situation Summary Table B. Establishment data, seasonally adjusted

    But that's just the Establishment Data.

    The Household survey was even uglier.

    Total Americans employed rose only 34,000.

    And the important 25-54 age range saw a LOSS of 64,000.

    In fact, every general age range - 16-19, 20-24, 25-54 and 55 and over - saw a drop in employment except that old standby...the over 55's.

    Table A-9. Selected employment indicators


    And here is a worrying stat for the future, over the last 12 months, the 20-24 age range has showed a drop of employment of 117,000 (they lost 291,000 in March).
    Last edited by DA60; 04-03-15 at 11:07 AM.

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    Re: U.S. Economy Gained 126,000 Jobs in March, an Abrupt Slowdown in Hiring

    Ouch....Its the weathers fault ! Lol

    We need more " stimulus to increase aggregate demand "....

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    Re: U.S. Economy Gained 126,000 Jobs in March, an Abrupt Slowdown in Hiring

    And, in case you are wondering about the unemployment rate?

    It stayed at 5.5% - despite the lousy jobs numbers - thanks in part to the government's best friend in the jobs data...the participation rate which dropped yet again to 62.7%.

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    Re: U.S. Economy Gained 126,000 Jobs in March, an Abrupt Slowdown in Hiring

    I am sure the weather in the east played a small role, but I think the biggest drag on last months numbers was the weakening domestic energy sector due to low oil prices. Hopefully last month was just a brief blip in the overall trend.
    "You're the only person that decides how far you'll go and what you're capable of." - Ben Saunders (Explorer and Endurance Athlete)

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    Re: U.S. Economy Gained 126,000 Jobs in March, an Abrupt Slowdown in Hiring

    Quote Originally Posted by DA60 View Post
    'The labor market’s yearlong streak of robust monthly job creation was broken on Friday with the Labor Department’s report that employers added just 126,000 workers in March, a marked slowdown in hiring that echoed earlier signs of a winter pall on the economy.'

    ...

    In the Bureau of Labor Statistics report Friday, it revised its previous estimates for February and January, subtracting 69,000 jobs from the first quarter’s total. And there was also no sign that the millions of American who have disappeared from the work force were returning, as the labor participation rate — which includes those who have jobs and those who are looking — remained unchanged at 62.7 percent.'

    http://www.nytimes.com/2015/04/04/bu...ent-march.html



    Ouch.
    It always takes time for gdp growth to translate into jobs and with the dollar strong and the world economy mixed I see no real reason for better performance than we are seeing.

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    Re: U.S. Economy Gained 126,000 Jobs in March, an Abrupt Slowdown in Hiring

    Quote Originally Posted by joG View Post
    It always takes time for gdp growth to translate into jobs and with the dollar strong and the world economy mixed I see no real reason for better performance than we are seeing.
    Time?

    You do realize that in the all-important 35-54 age range, that there are less Americans working now then since the official end of the 'Great Recession'? That is 5 3/4 years.

    How much time do you want?

    The 'recovery' is a joke, imo. A QE/ZIRP/deficit spending joke of a recovery that has seen food stamp usage skyrocket...along with the national debt, the Fed balance sheet and the stock market (which primarily benefits the rich). Oh, and the home ownership rate is at a 19 year low and still falling.
    Yet there are still less Americans employed in the all-important, prime money making, big ticket item buying, 35-54 age range since the recession ended.

    Whatever the Fed/government is doing...it ain't, IMO, working for almost anyone but the rich.
    Last edited by DA60; 04-03-15 at 12:06 PM.

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    Re: U.S. Economy Gained 126,000 Jobs in March, an Abrupt Slowdown in Hiring

    Quote Originally Posted by DA60 View Post
    Time?

    You do realize that in the all-important 35-54 age range, that there are less Americans working now then since the official end of the 'Great Recession'? That is 5 3/4 years.

    How much time do you want?

    The 'recovery' is a joke, imo. A QE/ZIRP/deficit spending joke of a recovery that has seen food stamp usage skyrocket...along with the national debt, the Fed balance sheet and the stock market (which primarily benefits the rich). Oh, and the home ownership rate is at a 19 year low and still falling.
    Yet there are still less Americans employed in the all-important, prime money making, big ticket item buying, 35-54 age range since the recession ended.

    Whatever the Fed/government is doing...it ain't, IMO, working for almost anyone but the rich.
    You keep repeating that statistic even after it has been pointed out to you that the 35-54 demographic is SHRINKING in size. So yes there are less people working in it because there are less of them. Our population is aging. How would you fix that? More immigration?
    As far as the food stamp increases, you do know that the requirements have been eased resulting in more households that qualify.

    As the economy weakens, states and the federal government are trying to help more people qualify for food stamps.
    Since Oct. 1, new federal rules make it easier for households with income from combat pay, retirement accounts or education savings to be eligible. The rules are part of the 2008 Farm Bill, which changed the name of the food stamp program to SNAP, Supplemental Nutrition Assistance Program.

    "This is a nutrition program, not a welfare program," says Jean Daniel, spokeswoman for the U.S. Department of Agriculture (USDA), noting that half the 29 million Americans who receive aid are children. SNAP serves one of every five of the nation's kids, who are also eligible for free or reduced-price school meals.

    Some states are going further to expand eligibility. Last month, California enacted a bill that will allow low-income people to keep some savings and still qualify for food aid. At least four other states — Maryland, Ohio, Pennsylvania and Vermont — similarly eased the asset test this year.

    "People won't have to sink to ground zero to get help," says Paul Fraunholtz, a deputy director in Ohio's Department of Job and Family Services.
    http://usatoday30.usatoday.com/news/...odstamps_N.htm
    Last edited by iguanaman; 04-03-15 at 12:17 PM.

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    Re: U.S. Economy Gained 126,000 Jobs in March, an Abrupt Slowdown in Hiring

    Quote Originally Posted by iguanaman View Post
    You keep repeating that statistic even after it has been pointed out to you that the 35-54 demographic is SHRINKING in size. So yes there are less people working in it because there are less of them. Our population is aging. How would you fix that? More immigration?

    According to census.gov...between 2000 and 2010...

    yes, 35-39 and 40-44 shrank in numbers (by 11.1% and 6.9% respectively).

    But ages 45-49 and 50-54 rose significantly (13.0% and 26.8% respectively).

    http://www.census.gov/prod/cen2010/b...c2010br-03.pdf


    Additionally, despite the large rise on the numbers of aged 45-54's recently (apparently THE most important demographic for the economy)....the number of employed persons in that very age group between the end of the Great Recession (June 2009) and today has DROPPED by 926,000.

    http://www.bls.gov/news.release/arch...t_07022009.pdf Page 16

    http://www.bls.gov/news.release/empsit.t09.htm


    What kind if a recovery is it when the most important economic age group is growing in number and yet has less people employed?

    Not a good one, IMO.
    Last edited by DA60; 04-03-15 at 12:36 PM.

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    Re: U.S. Economy Gained 126,000 Jobs in March, an Abrupt Slowdown in Hiring

    Quote Originally Posted by DA60 View Post
    Time?

    You do realize that in the all-important 35-54 age range, that there are less Americans working now then since the official end of the 'Great Recession'? That is 5 3/4 years.

    How much time do you want?

    The 'recovery' is a joke, imo. A QE/ZIRP/deficit spending joke of a recovery that has seen food stamp usage skyrocket...along with the national debt, the Fed balance sheet and the stock market (which primarily benefits the rich). Oh, and the home ownership rate is at a 19 year low and still falling.
    Yet there are still less Americans employed in the all-important, prime money making, big ticket item buying, 35-54 age range since the recession ended.

    Whatever the Fed/government is doing...it ain't, IMO, working for almost anyone but the rich.
    Don't forget that we installed many too many political programs doing stuff that governments don't do well and allowed a Fed Chairman and President to create a humungus monster of a financial bubble the popped. That considered we arelucky to be, where we are.

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