US labor market sputters as 88,000 jobs added (AFP)

[Up2Late]

Source: AFP

US labor market sputters as 88,000 jobs added

04/05/2007 15h56

WASHINGTON (AFP) - America's job market showed signs of weakening Friday as government figures showed just 88,000 new jobs were created in April marking the weakest reading in almost two-and-a-half years.

A slowdown in nonfarm payroll hiring, seen as one of the best indicators of economic health, had been expected but the deceleration caught economists off guard. Most analysts had forecast April growth of at least 100,000 new positions.

The national unemployment rate ticked up to 4.5 percent, in line with most forecasts, from 4.4 percent a month earlier, the Labor Department said. "Today's employment report for April gave a hint that the labor market may be starting to soften," said Nigel Gault, chief US economist at Global Insight.

(edit)

...Despite overall job growth slowing to its weakest reading since November 2004, the White House applauded Friday's report. "Our economy has now added jobs for 44 straight months, and the unemployment rate remains low at 4.5 percent," the White House said....

(more at link)

Read more: http://www.afp.com/english/news/stories/070504155458.byw4r22h.html

---

"...Despite overall job growth slowing to its weakest reading since November 2004, the White House applauded Friday's report...."

That about says it all!

Why? Because the U.S. Economy needs to add about 260,000 EVERY MONTH just to keep up with population growth. (grr)

[bullimiami]

1. the unemployment figures are so obviously a lie.

has there been even one month when they added more jobs than they needed to keep up with growth?
i dont think so. and there have been mass layoffs throughout this misadministration.
yet since 2003 they have showed a steady decline in unemployment.
i think it demonstrates a steady increase in rigging the books instead.

[Up2Late]

2. One of the major factors, that most seem to have forgotten is that when Clinton was President...

...when he had to deal with the Bush 41 1993 Recession, the U.S. Congress use to extend unemployment benefits about every 3 months, until the U.S. Economy DID actually start adding jobs!

Why is that important? It's important because by doing so, those "Long-term Unemployed" are still counted in the numbers. But when the long-term unemployed benefits benefits end (yet they are still unemployed) they are no longer counted in the Unemployment numbers.

This is something I know first hand, as when my unemployment benefits ran out in Spring 2004, it was right about the time that help for the Long-term Unemployed was loudly rejected my the Bush Cabal. Here in Georgia, unemployment only lasts for 6 months, which is one of the shortest in the country.

If they added the Long-term Unemployed into the equation, I bet the actual Unemployment number would be 9% or so.

[bullimiami]

7. thats right around my guess for actual unemployment. 8%.+-.

[Rageneau]

3. And all the jobs the U.S. DID add are for paid goons in Iraq.

I'm convinced that the only new jobs the country is actually adding these days are for Blackwater security agents and people associated with the permanent-war industry -- jobs which subtract from the tax base and don't add to it. Every new Blackwater job is actually a new job LOST from the US labor market.

[llmart]

8. Well, that's not exactly true.......

I saw a guy on the corner tonight holding a sign that said "two pizzas for $5." He was dressed up in a costume, too. I'll bet he's thrilled to pieces to have that newly created job:)

[DavidDvorkin]

4. I thought it was 150,000 a month to keep up with population growth

In either case, we're not creating jobs in terms of the net number. We're falling behind. Even taking the official numbers at face value -- if anyone does -- we're falling behind most months.

Not that the media have any interest in pointing that out.

[Up2Late]

6. I'm the last person here who should claim to be "good with numbers," but when I calculated this...

...back in January, after another "better than expected" jobs report, I posted what I came up with here at these links:

Original Post:
<http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=102&topic_id=2680839&mesg_id=2680839>

My Replies:
<http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=102&topic_id=2680839&mesg_id=2681900>

<http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=102&topic_id=2680839&mesg_id=2680881>

But, like I said, I was never a "math wiz," so my calculations may not be perfect.

[roamer65]

5. The real umemployment measurement, the U6...

is up to 8.2 percent from 8.0 in March.