U.S. Economy Added 216,000 Jobs in March; Rate at 8.8

[dtotire]

U.S. Economy Added 216,000 Jobs in March; Rate at 8.8

The United States economy added 216,000 jobs in March, the Labor Department reported Friday, adding to hopes that hiring was finally on a steadier track despite concerns about overseas turmoil.

The gain in jobs slightly exceeded economists’ expectations. The unemployment rate continued to decline, to 8.8 percent.

Quite a few signs have pointed to this economic recovery finally gaining some momentum. The weekly unemployment claims have declined steadily, from the mid-400,000s to the neighborhood of 385,000. In most contexts, the latter would be a grim number. But in this slowest and most sluggish of recoveries, it points to fewer layoffs, and presumably to more hiring.

Still, threats to a more robust recovery remain, of course, including a surge in energy and food prices, with the possibility of disruptions in oil production in the Middle East continuing to weigh on the financial markets. State and local governments have also been shedding jobs as they grapple with budget woes.

But broader measures of unemployment, which include those Americans who have given up looking or who have taken part jobs because they cannot find full time, have also improved.


more:
http://www.nytimes.com/2011/04/02/business/economy/02jobs.html?_r=1&hp

[rfranklin]

1. And here's the bad news a few paragraphs down...

Just 64.2 percent of adults are either in the work force, or looking for a job; that’s the lowest labor participation rate in a quarter century.

Many Americans had given up on finding work in this most terrible of economies, and survive on a spouse’s salary or savings. And they wait and hope for an upturn. “The unemployment rate may go up, but the bad news will be the good news,” Ms. Shierholz said. “It will mean people feel better about getting back into the economy.”

The larger question is what the medium-term future augurs. Will the job force continue to expand through the spring, and perhaps start to add jobs with enough vigor — 300,000 a month, say — to substantially reduce the unemployment rate? As Ms. Shierholz notes, if the economy adds 200,000 jobs a month, it will be 2019 before it reaches the same employment rate as before the Great Recession started. (Since the recession began in December 2007, the economy has shed more than seven million jobs).

http://www.nytimes.com/2011/04/02/business/economy/02jobs.html?_r=2&hp

[MannyGoldstein]

2. Why is this being unrec-ed? It's good news.

Let's pray that it continues and expands.

[tinwi]

3. I wonder if that number includes public sector jobs?

They do not seem to be counted in the employment picture

[Aryo]

4. More fake numbers

Real unemployment is so much higher than 8.8 percent.

[MannyGoldstein]

5. But U6 is dropping also

and that's real: http://www.bls.gov/news.release/empsit.t15.htm

[bigdarryl]

6. You must be a rightwing troll to believe that BULLSHIT

[MannyGoldstein]

7. He's right that the Publicized numbers are cooked

And he may not know where to find the uncooked numbers.

[Change Happens]

9. ARE YOU THE LOONEY LEFT?

wtf?

[MannyGoldstein]

10. I believe in traditional Democratic values

So by the standard of most elected Democrats, I am the LOONEY LEFT. By the standard of 1933-1980, I'm pretty mainstream.

[sharp_stick]

8. It's gotta hurt huh?

I mean, so early in an election cycle and the positive news is coming out.

[Maraya1969]

11. And average unemployment for a society with a good economy is much higher than zero.

So that cancels yours out.