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Thread: U.S. Economy Added 162,000 Jobs in March, Most in 3 Years

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    Re: U.S. Economy Added 162,000 Jobs in March, Most in 3 Years

    Quote Originally Posted by donsutherland1 View Post
    Erod,

    Events on Wall Street and the Greek debt situation/growing concerns over other parts of Europe do not mean that there is no cyclical recovery underway.
    Nor do fabricated temporary government jobs mean a recovery is underway.

    Once the GOP regains control of Congress in November as expected, business will begin to relax knowing President Doofus can't do any more damage the next two years.

    The more business feels that is inevitable, the more hiring risk they will take on.

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    Re: U.S. Economy Added 162,000 Jobs in March, Most in 3 Years

    Quote Originally Posted by Erod View Post
    Nor do fabricated temporary government jobs mean a recovery is underway.
    From the employment situation report:

    In April, nonfarm payroll employment rose by 290,000. Sizable employment gains occurred in manufacturing, professional and business services, health care, and in leisure and hospitality. Federal government employment increased due to the hiring of temporary workers for Census 2010. Since December, nonfarm payroll employment has expanded by 573,000, with 483,000 jobs added in the private sector. The vast majority of job growth occurred during the last 2 months.

    From data contained in the report:

    Last 3 Months:
    Private sector: +467,000
    Government: +92,000

    Last 2 Months:
    Private sector: +405,000
    Government: +115,000

    Most Recent Month:
    Private sector: +231,000
    Government: +59,000

    Once the GOP regains control of Congress in November as expected...
    While current polling data and off-year election experience would suggest Republican gains in the 2010 election, the magnitude of gains is far from certain. Much can change between now and Election Day. A change in control in one or both houses of Congress is not a certainty.

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    Re: U.S. Economy Added 162,000 Jobs in March, Most in 3 Years

    Quote Originally Posted by donsutherland1 View Post
    From the employment situation report:

    In April, nonfarm payroll employment rose by 290,000. Sizable employment gains occurred in manufacturing, professional and business services, health care, and in leisure and hospitality. Federal government employment increased due to the hiring of temporary workers for Census 2010. Since December, nonfarm payroll employment has expanded by 573,000, with 483,000 jobs added in the private sector. The vast majority of job growth occurred during the last 2 months.

    From data contained in the report:

    Last 3 Months:
    Private sector: +467,000
    Government: +92,000

    Last 2 Months:
    Private sector: +405,000
    Government: +115,000

    Most Recent Month:
    Private sector: +231,000
    Government: +59,000



    While current polling data and off-year election experience would suggest Republican gains in the 2010 election, the magnitude of gains is far from certain. Much can change between now and Election Day. A change in control in one or both houses of Congress is not a certainty.
    And yet unemployment rose to 9.9 percent.

    How many Americans will graduate high school/college and enter the job market this month?

    You have to add a ton of jobs each month just to accommodate the new work force.

    That's why one month of anything is really nothing.
    Last edited by Erod; 05-07-10 at 01:35 PM.

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    Re: U.S. Economy Added 162,000 Jobs in March, Most in 3 Years

    Quote Originally Posted by Erod View Post
    And yet unemployment rose to 9.9 percent.

    How many Americans will graduate high school/college and enter the job market this month?

    You have to add a ton of jobs each month just to accommodate the new work force.

    That's why one month of anything is really nothing.
    The fact is the total unemployed rose to 15,260,000 and the discouraged workers rose again as well so that the real unemployment rate is closer to 17%. apparently 15.2 million unemployed people don't believe much in that hope and change.

    We have a disaster in the WH who spins this as good news and his minions buy it. Facts always get in the way of Obama rhetoric.

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    Re: U.S. Economy Added 162,000 Jobs in March, Most in 3 Years

    Quote Originally Posted by Erod View Post
    And yet unemployment rose to 9.9 percent.
    As noted earlier today, monthly payroll growth came to 290,000 jobs. However, the labor force expanded by 805,000 persons. The larger labor force relative to employed persons resulted in the higher unemployment rate.

    How many Americans will graduate high school/college and enter the job market this month?

    You have to add a ton of jobs each month just to accommodate the new work force.
    Labor force stabilization and now a resumption of labor force expansion do not mean that the employment situation is strong. It, most definitely, is not. The labor market recovery is just getting started.

    Younger persons, particularly those without a college degree, face a brutal unemployment situation. Those aged 16-19 had a 25.4% unemployment rate in April (down slightly from 26.1% in March). Summer jobs may well be difficult to obtain this year.

    Nonetheless, the employment situation for the current college graduating class has improved. The National Association of Colleges and Employers revealed:

    NACE’s 2010 Student Survey shows that nearly one-quarter (24.4 percent) of 2010 graduates who applied for a job actually have one waiting for them after graduation. In comparison, just 19.7 percent of 2009 graduates who applied for a job had one at this time last year...

    This year, 39 percent of seniors taking part in the study reported they had received job offers, and 59 percent of those students took the job.

    Last year, 40 percent of responding seniors were offered jobs, but only 45 percent accepted them.


    That's why one month of anything is really nothing.
    Posting the latest data merely shows how things have recently been trending. This thread also has earlier data. What is clear is that the labor market has stabilized. Moreover, there is now evidence that it has, in fact, resumed growth. Clearly, the situation is not anything close to full employment. Moreover, on account of the large structural component to unemployment that resulted from the recent severe recession, a full employment situation is not likely anytime soon.

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    Re: U.S. Economy Added 162,000 Jobs in March, Most in 3 Years

    Quote Originally Posted by Conservative View Post
    The fact is the total unemployed rose to 15,260,000 and the discouraged workers rose again as well so that the real unemployment rate is closer to 17%. apparently 15.2 million unemployed people don't believe much in that hope and change.

    We have a disaster in the WH who spins this as good news and his minions buy it. Facts always get in the way of Obama rhetoric.
    The resumption of employment growth is good news, especially if it is sustained. The employment situation overall remains bad. There is a distinction between an emergent trend (beginning stages of a labor market recovery) and the present state of the employment situation.

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    Re: U.S. Economy Added 162,000 Jobs in March, Most in 3 Years

    Quote Originally Posted by donsutherland1 View Post
    The resumption of employment growth is good news, especially if it is sustained. The employment situation overall remains bad. There is a distinction between an emergent trend (beginning stages of a labor market recovery) and the present state of the employment situation.
    No one knows why the labor force grew but it could have something to do with unemployment compensation running out but to focus solely on the jobs created without viewing to total picture is disengenuous and that is what this Administration is.

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    Re: U.S. Economy Added 162,000 Jobs in March, Most in 3 Years

    Quote Originally Posted by Conservative View Post
    No one knows why the labor force grew but it could have something to do with unemployment compensation running out but to focus solely on the jobs created without viewing to total picture is disengenuous and that is what this Administration is.
    There is no reason to turn this into a political issue, as has been attempted by many who seek to gain politically. The fact that the republican base is talking down any aspects of recovery is telling enough.

    Job growth has exceeded even the optimists expectations. Admitting as much would go along ways in restoring credibility.
    It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion.
    "Wealth of Nations," Book V, Chapter II, Part II, Article I, pg.911

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    Re: U.S. Economy Added 162,000 Jobs in March, Most in 3 Years

    Quote Originally Posted by Goldenboy219 View Post
    There is no reason to turn this into a political issue, as has been attempted by many who seek to gain politically. The fact that the republican base is talking down any aspects of recovery is telling enough.

    Job growth has exceeded even the optimists expectations. Admitting as much would go along ways in restoring credibility.
    The question is, though, whether this is happening because of government interventions, or despite government interventions. And the situation is still very terrible, we have to admit that.

    I'm trying to get info on PPR right now. I'll post it here if I find it (or just make it myself).

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    Re: U.S. Economy Added 162,000 Jobs in March, Most in 3 Years

    Quote Originally Posted by phattonez View Post
    The question is, though, whether this is happening because of government interventions, or despite government interventions. And the situation is still very terrible, we have to admit that.

    I'm trying to get info on PPR right now. I'll post it here if I find it (or just make it myself).
    Do tell me what PPR is again. Pipe penetrating radar?

    Most certainly, fiscal and monetary stimulus have had only a positive impact on financial and employment markets.
    Last edited by Kushinator; 05-07-10 at 02:34 PM.
    It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion.
    "Wealth of Nations," Book V, Chapter II, Part II, Article I, pg.911

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