Breaking-LARGEST Jump in JOB GROWTH in 3 Years

[Jezebelle]

http://money.cnn.com/2010/04/02/news/economy/jobs_march/index.htm?hpt=T1

Finally! Job growth returns

By Chris Isidore, senior writerApril 2, 2010: 8:45 AM ET


NEW YORK (CNNMoney.com) -- The economy had its biggest jump in jobs in three years in March, according to a government report released Friday.

The Labor Department said the economy gained 162,000 jobs in the month, compared to a revised reading of a 14,000 job loss in February. That makes March only the third month since the start of 2008 that employers did not cut payrolls. Economists surveyed by Briefing.com had forecast a gain of 184,000 jobs.



While the news was positive, there were a number of short-term factors that inflated the reading, including an addition of 48,000 by the Census Bureau as it geared up for the once-in-a-decade headcount of the U.S. population. March's count was also bolstered by seasonal factors -- February's numbers had been depressed by temporary job losses related to severe winter storms last month.

Still the addition was good news for an economy that has suffered a net loss of 8.2 million jobs since the start of 2008, a month after the official start of the recession.

January's reading was revised from a loss to a gain of 14,000 jobs, and February's job loss was also narrowed in the revision. The only other month with even a modest job gain was November 2009, when there was a net gain of 64,000 jobs.

The unemployment rate held steady 9.7% in February, matching economist expectations.

[Soul Crusher]

http://money.cnn.com/2010/04/02/news/economy/jobs_march/index.htm?hpt=T1

Finally! Job growth returns

By Chris Isidore, senior writerApril 2, 2010: 8:45 AM ET


NEW YORK (CNNMoney.com) -- The economy had its biggest jump in jobs in three years in March, according to a government report released Friday.

The Labor Department said the economy gained 162,000 jobs in the month, compared to a revised reading of a 14,000 job loss in February. That makes March only the third month since the start of 2008 that employers did not cut payrolls. Economists surveyed by Briefing.com had forecast a gain of 184,000 jobs.



While the news was positive, there were a number of short-term factors that inflated the reading, including an addition of 48,000 by the Census Bureau as it geared up for the once-in-a-decade headcount of the U.S. population. March's count was also bolstered by seasonal factors -- February's numbers had been depressed by temporary job losses related to severe winter storms last month.

Still the addition was good news for an economy that has suffered a net loss of 8.2 million jobs since the start of 2008, a month after the official start of the recession.

January's reading was revised from a loss to a gain of 14,000 jobs, and February's job loss was also narrowed in the revision. The only other month with even a modest job gain was November 2009, when there was a net gain of 64,000 jobs.

The unemployment rate held steady 9.7% in February, matching economist expectations.

50,000 were temp jobs from the govt due to the census.   The U6 number got worse, its nothing more than bs.  Additionally, we spent TRILLIONS of dollars and we need 125k a month just to break even, so we barely even did that, inspite of the TRILLIONS spent.  Good spin job by the govt as always. 

[240 is Back]

'50,000 were temp jobs from the govt due to the census'
'The Labor Department said the economy gained 162,000 jobs'

Still, that's 112,000 new jobs in a month.

If Obama has 6 straight months of job gains, the dems will have something to brag about in novemeber.  Not saying they'll be honest or accurate - before ten people call me a kneepadder - but politically, it could work. 

Daily show was making fun of FOX news for continually announcing the economy is recovering, last night. 

162k job LOSSES this month, and the repubs would be having a parade.
I'm guessing Obama reminds us of these job gains a great deal in the coming weeks.

[Soul Crusher]

'50,000 were temp jobs from the govt due to the census'
'The Labor Department said the economy gained 162,000 jobs'

Still, that's 112,000 new jobs in a month.

If Obama has 6 straight months of job gains, the dems will have something to brag about in novemeber.  Not saying they'll be honest or accurate - before ten people call me a kneepadder - but politically, it could work. 

Daily show was making fun of FOX news for continually announcing the economy is recovering, last night. 

162k job LOSSES this month, and the repubs would be having a parade.
I'm guessing Obama reminds us of these job gains a great deal in the coming weeks.

240 - for someone with an MBA, you sure dont seem concerned with the reality of things all that much, much more the spin of how Obama can use it. 

Maybe you and TA enjoy being lied to, but I dont and can see through bs when it is put to me. 

[240 is Back]

'240 - for someone with an MBA, you sure dont seem concerned with the reality of things all that much, much more the spin of how Obama can use it.'

Because I am well aware of the complete sham that is the whole world's financial system.  That doesn't interest me. 

I am interested in politics, however.  I am fascinated by the way people can convince the masses to support something they know is BS because they hate the other team just a little worse.  I like stats too... and I like to examine how after 18 months of job loss, 6 months of well-timed gains could mean the dems do well in nov, worhty or not.

This is a POLITICS forum, not an economics forum.  So please, stop attacking me for preferring to talk about politics

[Soul Crusher]

'240 - for someone with an MBA, you sure dont seem concerned with the reality of things all that much, much more the spin of how Obama can use it.'

Because I am well aware of the complete sham that is the whole world's financial system.  That doesn't interest me. 

I am interested in politics, however.  I am fascinated by the way people can convince the masses to support something they know is BS because they hate the other team just a little worse.  I like stats too... and I like to examine how after 18 months of job loss, 6 months of well-timed gains could mean the dems do well in nov, worhty or not.

This is a POLITICS forum, not an economics forum.  So please, stop attacking me for preferring to talk about politics

Point taken. 

[240 is Back]

i'm with ya on the $ angles though - it's a complete house of cards.  printing more money to lend to china to buy saudi oil and fund wars for more oil... i mean, if you wrote a movie or book like this, you'd be laughed out of the agent's office.

I don't defend the pile of lies that both sides use on the economy. I just think that Obama will be able to say the stim was a success because he'll be able to show, after about 18 months, a million or two new jobs.  The repubs will show that after 24 months, we're still in worse shape.  Obama will then blame obama.

And we'll have the same people voting for the same ppl they did in 2008, only now using new ammo to throw at each other.

[The Showstoppa]

All census.

[Colossus_500]

I'm not understanding how the unemployment rate is "holding steady" at 9.7% if the job growth is as high as it's been in 3 years.  That has to mean that for every job gained, we are losing at least another one. 

[Soul Crusher]

I'm not understanding how the unemployment rate is "holding steady" at 9.7% if the job growth is as high as it's been in 3 years.  That has to mean that for every job gained, we are losing at least another one. 

Its called kneepadding.

[Bindare_Dundat]

http://money.cnn.com/2010/04/02/news/economy/jobs_march/index.htm?hpt=T1

Finally! Job growth returns

Yes hundreds of thousends of real jobs were replaced with temporary government jobs and lower paying service jobs. So if we replace 8,000,000 jobs that were lost with people who do nothing but temporarily dig holes and fill them back up, or flip burgers for half of what they used to get paid is that some kind of smashing success?  


"there were a number of short-term factors that inflated the reading"..........  enough said.

[Soul Crusher]

Now for some reality where we are. 

[MuscleMcMannus]

Fucking morons! 

 To bring down the unemployment rate, the economy must add about 150,000 jobs a month to accommodate adult population growth, re-entry of discouraged workers and marginally occupied self-employed workers. Including the latter two groups, unemployment is closer to 20 percent than the 9.7 percent headline figure. Overall, the economy must add more than 13 million jobs to bring unemployment to 6 percent by the end of 2013. With state and local governments facing tough financial constraints, the private sector must add at least that many jobs to accomplish the task.

Yippee!!!!!!!!  122K jobs added to the economy!  LOL. 

[Soul Crusher]

Fucking morons! 

 To bring down the unemployment rate, the economy must add about 150,000 jobs a month to accommodate adult population growth, re-entry of discouraged workers and marginally occupied self-employed workers. Including the latter two groups, unemployment is closer to 20 percent than the 9.7 percent headline figure. Overall, the economy must add more than 13 million jobs to bring unemployment to 6 percent by the end of 2013. With state and local governments facing tough financial constraints, the private sector must add at least that many jobs to accomplish the task.

Yippee!!!!!!!!  122K jobs added to the economy!  LOL. 

I post on the WSJ.com site and you should see some of the kneepadding posts over there. 

[GigantorX]

Lots of knee-jerk, reactionary idiots in this thread. But good posts by those that "get it" and see through the bullshit.

The ADP/NonFarm numbers reported a 30k job loss in the private sector but the "overall" employment report tells us that 122k have been added as a whole.

Well, for those of you who aren't completely snowed by propaganda and understand these numbers (and MusclesMcMannus did a great job giving us a deeper insight) can see that this is a garbage report and the only reason this number is positive is because of massive govt. payroll hirings and the National Census hirings.

So, in short, the private sector, which completely drives the economy...which stands as a large barometer for the economy, which drives demand, which spends money, which hires when there is actual demand......LOST 30K JOBS. What does that tell you? Are you all this engulfed in the Govt. Speak? Good lord.

Govt. hirings is pointless, inefficient, a waste of money and creates nothing.

Well done Obama Admin!

[George Whorewell]

Gigantor-- Don't let your so called "logic" and your understanding of "reality", get in the way of self serving studies put out by the government that have absolutely no intrinsic value.

In the socialist Utopia we hope to achieve over the next 3 years, all jobs will be seasonal (farming and snow shoveling), government (thats where all the money and "jobs" seem to be these days) and volunteer work.

[Soul Crusher]

The point I made in a post on the wsj site is that the BLS figure does not take into account people who so called "have stopped looking for a job".  How the heck does the BLS know this actual number?  Did they go and interview these millions of people not being included in that demographic? 

No!  What they do is take a guess of the number of so called people who allegedly stopped looking for work and put forth what can only be described as a "stab in the dark" number. 

Finally, we are told that the birth/death model requires 125k jobs a month just to stay even.  How can the official rate have stayed the same the past two months, up or down, if they actually take into account the figures they tell us comprise of this number? 

Its pure nonsense. 

[BodyProSite]

wow  jobs that will last for a month or 2  wow amazing, thanks bambam!!!

[Tito24]

Fucking morons! 

 To bring down the unemployment rate, the economy must add about 150,000 jobs a month to accommodate adult population growth, re-entry of discouraged workers and marginally occupied self-employed workers. Including the latter two groups, unemployment is closer to 25 percent than the 9.7 percent headline figure. Overall, the economy must add more than 13 million jobs to bring unemployment to 6 percent by the end of 2013. With state and local governments facing tough financial constraints, the private sector must add at least that many jobs to accomplish the task.

Yippee!!!!!!!!  122K jobs added to the economy!  LOL. 

[Jezebelle]

Private Sector = CaCa for job growth.

[Straw Man]

trend certainly looks promising

[George Whorewell]

Private Sector = CaCa for job growth.

Can you at least pretend not to be stupid?

[tonymctones]

trend certainly looks promising

lets see...

there was the census

then the obvious inventory cycle from the holidays and the eventual after holidays shopping...

LOL again these numbers will get revised down just as the bs january numbers just as the last GDP numbers but guess what you wont hear anything about those...msnbc doesnt report on that 

[Bindare_Dundat]

Private Sector = CaCa for job growth.

Public sector employees continue to benefit from higher wages and non-wage benefits relative to their private sector counter parts. Coupled with the large
increase in  public sector employment in recent years, such wage premiums exert pressure on government expenditures and can eliminate any benefits obtained from tight fiscal management. Moreover, wage premiums distort local labour markets as public and private employers compete to attract and retain skilled workers.

The public sector kills employment as it takes more and more from the private sector to sustain itself, however that can only last so long. Eventually the employees in the public sector will also have to face job loses and wage cuts as government spending keeps going off the charts to fund every promise made. The public sector cannot micro manage job creation for every individual in the country, the private sector is better and more efficiant at creating jobs that will meet those individual needs.

[Straw Man]

lets see...

there was the census

then the obvious inventory cycle from the holidays and the eventual after holidays shopping...

LOL again these numbers will get revised down just as the bs january numbers just as the last GDP numbers but guess what you wont hear anything about those...msnbc doesnt report on that 

that chart is a 27 month snapshot in time

what holiday are you talking about?