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U.S. Payrolls Grew 244,000 in April; Unemployment at 9%

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By Timothy R. Homan - May 6, 2011
American employers in April added more jobs than forecast, indicating the world’s largest economy is weathering the impact of higher fuel prices.
Payrolls expanded by 244,000 last month, the biggest gain since May 2010, after a revised 221,000 increase the prior month, the Labor Department said today in Washington. The jobless rate climbed to 9 percent, the first increase since November, a separate survey of households showed. Employment was forecast to grow by 185,000 last month, according to the median estimate of economists surveyed by Bloomberg News.

:damn
 
When demand increases, businesses will hire more people to meet the demand.
When businesses hire more people, demand will go up.

the best catch there is
 
Not a campaign prommise. The Magical Mystery Stimulus was supposed to keep it at no higher than 8%
The unemployment rate doesn't tell the whole picture, when companies are hiring more, people are out looking for jobs and this will cause the rate to go up because of claims.
 

OK, change it to:

"Obama administration predicted unemployment would not exceed 8% if stimulus package is passed."

Now, it's 100% true. Does that really change anything ??????????

jobs_021116_stimuluschart.jpg
 
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That the economy is slowly getting better?

It is true that the economy is slowly improving. We have to remember that the economy still has unprecedented fiscal and monetary policy going for it. If you notice the breakout of the numbers, the private sector hired while the public sector continues to reduce. This will continue as state and local budgets have to brought into balance and stimulus money is going away. Not that this is bad but it will be a lag on the economy for some time.
 
The good thing about this is as someone already mentioned, private sector is back to hiring. That's extremely good.

Overall I'd say this is good news. As for the stimulus, those projections were severely faulted. Good job Nancy.
 
Profits have been up for a while. Turns out it takes more than just more money in their accounts to persuade a business to hire somebody. The business has to have a need for an additional person.
 
Not a campaign prommise. The Magical Mystery Stimulus was supposed to keep it at no higher than 8%

The CBO projections had unemployment lower than 9% without the stimulus.... IMHO, 90% of Americans underestimated the impact of the financial crisis.
 
There are a few factors a lot of you aren't even really looking at. Mainly acts of God. Me and many people I know right now for example have been out of work roughly for a month due to supply constraints caused by Japan. In the automotive supplier I work for, the people that are left working there right now only work 3 days, on one shift as opposed to the typical 6 days a week an entire 3 shifts would normally work. Natural disasters in United States have not helped either. I think honestly many of those new jobs probably came from relief efforts from natural disasters. Im also a believer that regardless of who would be president now, the worst is yet to come. Get ready for Great Depression Part Deux people!
 
And don't forget that 62,000 of the 244,000 gain in employment was McDonald's hiring fair. Take those minimum wage jobs out and the numbers don't look so great.

There has been so much talk in Washington and in the news about the national debt, terrorism, wars and healthcare that one might think these are the issues that most concern Americans in 2011. But opinion polls consistently show that none of these issues is as important to most Americans as the Big Issue: unemployment and the economy.

An unusually vivid example occurred on April 19, which McDonald’s declared National Hiring Day, encouraging people across the country to apply for a job.

The world’s biggest restaurant chain reported that it received one million applicants for open positions, which resulted in 62,000 people gaining employment. Another 900,000 plus were turned down.
 
Except that the unemployment rate went up again, even after excluding discouraged workers. It's not ALL a happy picture.

So what if the unemployment rate went up? The US unemployment rate in its present form means very little due to the way it is made. What is important is that private sector job creation is strong and getting better.
 
So what if the unemployment rate went up? The US unemployment rate in its present form means very little due to the way it is made. What is important is that private sector job creation is strong and getting better.

So what ??? The unemployment rate is an important psychological factor that pushes the mood of the country up and down. And... it's pretty damn important to Obama too. No sitting president has been reelected when the unemployment rate exceeded 7.2%.
 
Good news..

It was the third month in a row of at least 200,000 new jobs. The private sector has added jobs for 14 consecutive months. Even a slight rise in the unemployment rate to 9 percent appears to be a quirk.

The job growth was better than economists expected and perhaps the strongest sign yet that what they call a "virtuous cycle" has taken hold: When people spend more, corporate earnings rise, leading to more hiring and then more spending.

Businesses now hiring at fastest pace since 2006 - Yahoo! News
 

Are you trying to claim that Obama was expecting unemployment to increase during the election campaign? Is that the story we are to believe now? Is that actually what he ran on?

Jeez... I don't remember any of that.

Does anyone else?

I do recall he said the following:

I am absolutely certain that generations from now, we will be able to look back and tell our children that this was the moment when we began to provide care for the sick and good jobs to the jobless; this was the moment when the rise of the oceans began to slow and our planet began to heal.”

Now when a guy can heal the planet and slow the rise of non rising oceans, I would think bringing the unemployment rate below 8%, that "good jobs for the jobless" would be a snap. BTW, did he mean hamburger flipper jobs when he meant good jobs?
McDonald's to hire 50,000 workers, starting April 19 - Apr. 4, 2011

.
 
25% of the private sector jobs were entry level positions flipping burgers, and one million americans applied for those paper hats

when is ronald mcdonald hiring his next 62,000?

maybe kfc is expanding?

200,000 private sector non-fast-food jobs in april barely keeps up with population, it will take us decades to get out at this rate

and in times like these

q1 gdp was 1.8%

new jobless claims have ominously topped 400,000 for four straight weeks

cnbc reported yesterday, "it's official," housing has reached DOUBLE DIP

CNBC: Natl Home Prices Double Dip

fannie yesterday announced another 8.7B loss, wants 8.5B more

News from The Associated Press

gasoline is headed towards $5 this summer, folks aren't gonna be able to get to work

the dollar is crashing

our states are in crisis, 2.5 trillion short on public pensions alone, medicaid equally unsustainable

governors like cuomo and moonbeam are slashing payroll---thousands in nyc, for example, currently employed as professional educators are gonna be unemployed---tomorrow

this unavoidable reduction of public payroll---in new york, california, wisconsin, ohio, indiana, jersey, illinois, maryland, michigan---is gonna have serious impact on unemployment figures going forward

it's gonna be a long summer
 
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Are you trying to claim that Obama was expecting unemployment to increase during the election campaign? Is that the story we are to believe now? Is that actually what he ran on?

Jeez... I don't remember any of that.

Does anyone else?

I do recall he said the following:

I am absolutely certain that generations from now, we will be able to look back and tell our children that this was the moment when we began to provide care for the sick and good jobs to the jobless; this was the moment when the rise of the oceans began to slow and our planet began to heal.”

Now when a guy can heal the planet and slow the rise of non rising oceans, I would think bringing the unemployment rate below 8%, that "good jobs for the jobless" would be a snap. BTW, did he mean hamburger flipper jobs when he meant good jobs?
McDonald's to hire 50,000 workers, starting April 19 - Apr. 4, 2011

.

You're dodging the point. The point is that there was never any "promise" regarding the 8% number and that number didn't come from Obama.

Nobody ever made the claim that unemployment would level off immediately. The economy is way too big to turn on a dime like that.
 
You're dodging the point. The point is that there was never any "promise" regarding the 8% number and that number didn't come from Obama.

Nobody ever made the claim that unemployment would level off immediately. The economy is way too big to turn on a dime like that.

He did promise to fix the economy and create a half million jobs a month. Hows all that hope-n-change working for you?
 
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