Jobless Rate Falls to 8.8; 216,000 Jobs created

[Clio the Leo]

That's the lowest level in 2 years and better than the forecasted rise to 9.0

Here's the report ...
http://is.gd/naFtxg

Unemployment rate falls to 2-year low of 8.8 pct.; employers add 216K jobs in March

By Associated Press, Friday, April 1, 8:32 AM
WASHINGTON — The unemployment rate fell to a two-year low of 8.8 percent in March and companies added workers at the fastest two-month pace since before the recession began.

The Labor Department says the economy added 216,000 new jobs last month, offsetting layoffs a local governments. Factories, retailers, education, health care and an array of professional and financial services expanded payrolls.

Private employers, the backbone of the economy, drove nearly all of the gains. They added 230,000 jobs last month, on top of 240,000 in February. It was the first time private hiring topped 200,000 in back-to-back months since 2006 — more than a year before the recession started.

http://www.washingtonpost.com/business/unemployment-rate-falls-to-2-year-low-of-88-pct-employers-add-216k-jobs-in-march/2011/04/01/AF44d9FC_story.html

[flpoljunkie]

1. 'Obamacare' created no jobs? Think again! How about 283,000 over last 12 months.

Health care employment continued to increase in March (+37,000). Over the last 12 months, health care has added 283,000 jobs, or an average of 24,000 jobs per month.

http://www.bls.gov/news.release/empsit.nr0.htm

[Clio the Leo]

2. This feels like the first month we've had a significant number that were NOT...

.... created by the census. Feels good.

[flpoljunkie]

5. Dems must not let R's dumb austerity budget cuts stop our budding recovery

[young but wise]

3. This is great news. K&R

[kjackson227]

4. O-B-A-M-A! Good news for the country and him! K&R!

[JoePhilly]

6. More good news.

[IrishEyes]

7. Thank god.

I was worried about the jobs report.

[jschurchin]

8. I will wait for the Gallup figures

They have proven, time and again to be more acurate.

[pinqy]

10. Gallup also showed a drop

From 10.3 to 10.0

And Gallup has a sample 1/3 the size of the BLS sample, has a min age of 19 compared to BLS' 16, and has a margin of error of 0.7% compared to BLS' 0.2% Looking at the not seasonally adjusted BLS data, the range is 9.0-9.4 while Gallup shows 9.3 - 10.7

Where on Earth are you getting the idea that Gallup is more accurate?

[jschurchin]

12. They count the Unemployed

the BLS does not. Once you no longer collect UE benifits, according to the BLS you are no longer unemployed.

Or how about the birth/death model that added 117,000 phantom jobs to this report.

But don't let me stand in the way of feel good Government reporting. Oh yeah, P.S. inflation is 0.2%.

[karynnj]

15. You are completely wrong on who is counted.

Here is the BLS document on who is counted. They getthe unemployed and the employed from the household survey. They explain in their document that just using the number receiving UI would be insufficient. Their survey is very well designed and it has a far bigger sample and far more detailed questions that the Gallup one.

Now, what you could question in their published statistic is the definition used. However, their own staff anticipates that and has used their household survey to also estimate what the rate is under other definitions. (If you go to the link below. you could get the information on them)

Is there only one official definition of unemployment?

Yes, there is only one official definition of unemployment, and that was discussed above. However, some have argued that this measure is too restricted, and that it does not adequately capture the breadth of labor market problems. For this reason, economists at BLS developed a set of alternative measures of labor underutilization. These measures are published every month in the Employment Situation news release. They range from a very limited measure that includes only those who have been unemployed (as officially defined) for 15 weeks or more to a very broad one that includes total unemployed (as officially defined), all persons marginally attached to the labor force, and all individuals employed part time for economic reasons.

http://www.bls.gov/cps/cps_htgm.htm

Your cynicism is ill placed here. No one is saying that 8.8% includes everyone without a job, it does include everyone without a job taking specific actions as unemployed. The value is that that definition is both clear cut and has been consistently used for decades. No one is saying that 8.8% is great - it isn't.

Rather than taking Gallup's number, which is from a far weaker survey, look into the alternative measures that BLS produces at the same time they produce the official one.

The good news is that the unemployment rate is definitely declining - and is doing so even though state and local governments have been cutting jobs. This is real - though not enough.

[jschurchin]

21. Woohoo, your right!!!

Yea!!!!! Let's go get a bottle of ripple and celebrate!!!!

[pinqy]

16. Wrong, and wrong

The official unemployment rate has NEVER used UI benefits as part of the definition: http://www.bls.gov/news.release/empsit.faq.htm">Employment Situation Frequently Asked Questions

Is the count of unemployed persons limited to just those people receiving
unemployment insurance benefits?

No; the estimate of unemployment is based on a monthly sample survey of households.
All persons who are without jobs and are actively seeking and available to work
are included among the unemployed. (People on temporary layoff are included even if
they do not actively seek work.) There is no requirement or question relating to
unemployment insurance benefits in the monthly survey.

And the birth/death model is for the non-farm payroll employment, not the UE rate. And what about it? Are you claiming it would be more accurate to ignore the fact that new business are created and others go out of business in between the time the times the sample is allocated?

[jschurchin]

22. Yeah, yeah I know

Everyones employed and living on easy street. Sorry, I didn't mean to piss on your "All is well" parade.

[pinqy]

23. Never said that

I was countering your FALSE statement about who is counted as Unemployed. You clearly lack the courage to admit that and will no doubtedly continue to spread misinformation.

[jschurchin]

25. There are reliable sites for unemployment information

I DO NOT consider the bean counters in government to be among them.

Have you ever wondered why the CPI, GDP and employment numbers run counter to your personal and business experiences? The problem lies in biased and often-manipulated government reporting.

I am not the one spreading dis-information, I leave THAT to the professional's in Washington. What I do search for is truthful information, and I can assure you, the bullshit from the BLS is anything but TRUTHFUL.

http://www.shadowstats.com/

[pinqy]

28. Williams gets his numbers from BLS

And in any case, you were still falsely claiming that BLS unemployment count is limited to those receiving benefits, which even Williams never claims.

Do the math: to get from the U-6 to Williams estimate, you'd have to add approx 10,000,000 people to the unemployed count. Considering there's only 6,000,000 not counted as unemployed who even say they want a job, and half of them are already included in the U-6, his numbers make no sense based on his claim that he's counting those discourged more than a year. BLS documents their methodology...Williams does not.

[jschurchin]

33. I assume you can add

so I would like for you to consider this.

The civilian labor force in the United States is 239,000,000. Now the number of Americans who are NOT gainfully employed is 85,594,000.

You can chirp all you want about how great thing's are and how we Democrats are improving the working opportunitys for all Americans. But until we start to see a meaningful increase in the pay and benefits for the Average American, it's smoke and mirrors.

The figures are from your beloved BLS and they indicate that 35.8% of the national labor pool is not gainfully employed. THAT, my friend, is the true state of employment in America.

[pinqy]

35. Ok, let's look at those not employed

http://www.bls.gov/news.release/empsit.t01.htm">Table A1 Not in the Labor Force 85,594,000 . Unemployed = 13,542,000
So out of an adult civilian non-institutional population of 239,000,000, we have 139,573,000 Employed and 99,136,000 not working. Of those not working, 13.7% are trying to find work, 6.6% say they want a job but aren't trying to get one, and 79.8% DON'T WANT TO WORK.

[jschurchin]

36. See you are a bright guy.

Of those not working, 13.7% are trying to find work, 6.6% say they want a job but aren't trying to get one

13.7+6.6=?

Oh yeah, John Williams, SGS.

I don't know how to break this to you, they ARE unemployed.

[MNBrewer]

31. The stock market is up! Didn't you hear? FULL EMPLOYMENT!

:sarcasm:

[jschurchin]

34. Yeah, I heard.

I'm just trying to convince everyone else what wonderful news this is.

[Clio the Leo]

42. Bottom line is more people are working than last month....

.... and even last year. Period.

Some of us are happy for THEM ... not for us ... not for Obama ... but for the people who are now GOING TO WORK that weren't before. If you cant share their joy that's on you.

[stevenleser]

14. Which ones? The figure that Gallup touts the most has shown job growth consistently since mid 2009

http://www.gallup.com/poll/110134/Gallup-Daily-US-Job-Market.aspx

That is the figure that Gallup touts the most and those who look at employment are most interested in as far as Gallups measurements are concerned.

[jschurchin]

24. And here I thought 10% Unemployment was bad.

Sorry bout that. Thank god all you guy's are here to teach me what a great thing it is. My bad.

[stevenleser]

26. You win the contest for most logical fallacies in four sentences. Congrats n/t

[Peacetrain]

9. Very good.. that is a million jobs a month turnaround ...

When the President took office, we were bleeding 700,000 jobs a month and now we are creating 230,000 private sector..

The Car Companies are solid for the first time in decades.

We are turning this around..

[Harmony Blue]

47. I am cautiously optimistic as well

These current figures are not clear cut as there is wiggle room either way, but if this trend continues the next three months, I reserve the right to increase my optimism.

[opihimoimoi]

11. Wonderful news...:o) GOPers must be disappointed...they want America POOR so Obama looks bad...

[Bluenorthwest]

13. If we do that all year, we will add 2.5 million jobs

The recession cost us 7.5 million jobs, so it would only be five million jobs to go. Sustain this for three solid years, and we recoup the loss. So we have now added slightly for four months in a row, 32 more months till we break even.
Moving in the right direction is at least moving in the right direction, and getting the movement going can be the hardest part, so let's hope we can keep the trend trending. Remembering that the figures represent human beings, and that the road ahead is long, long, long.

[doc03]

17. If it drops another 2% Obama may have a chance of being

re-elected.

[vaberella]

20. How did the goalpost move from being 8% to 6% ? n/t

[Arkana]

30. Ze goalposts! Zey are moving!

[4lbs]

18. What's this about a double-dip recession again?

.

[vaberella]

19. As I've always said...economists only play guessing games--they really don't have facts. n/t

[Safetykitten]

27. Massive underemployment plus all the people not looking anymore gives bad numbers.

I know five people alone that have gone into early retirement, but let the party begin.

[Clio the Leo]

41. Except that 149,000 more people were working in March than in February....

.... and almost 2 million more are working this March than LAST March.

See?
http://www.bls.gov/news.release/empsit.a.htm

The old stand by way of dismissing the number isn't working anymore.

[Arkana]

29. And I was one of 'em.

[Kdillard]

32. Happy to hear that.

[slay]

37. What is the average salary of these jobs? Are they full or part-time?

lots of info missing from this article and the headline is misleading at best and here's why:


"Economists predict employers will add jobs at roughly the same pace for the rest of this year. That would generate about 2.5 million new positions. Still, that would make up for only a small portion of the 7.5 million jobs wiped out during the recession."

~snip~

"People who stopped looking for work during the downturn are not counted as unemployed. If many out-of-work people start looking for work again, they will be counted and the unemployment rate could go up. That could happen even if the economy is adding jobs.

Local governments, wrestling with budget shortfalls, cut 15,000 workers last month and are expected to keep shedding jobs. Home prices are falling amid weak sales and a record number of foreclosures. Construction spending dropped in February to a 12-year low. Higher food and gas prices are leaving consumers with less disposable income to spend on other goods and services."

full article at: http://www.washingtonpost.com/business/unemployment-rate-falls-to-2-year-low-of-88-pct-employers-add-216k-jobs-in-march/2011/04/01/AF44d9FC_story.html

[Runework]

38. The Dollar Store is hiring.

...

[Safetykitten]

39. Mostly vastly lower pay and underemployment.

[ReturnoftheDjedi]

45. we know you don't want hear the good news. we don't care.

[mikekohr]

40. And the History Books Record Yet Another Example of A Democrat Cleaning Up After A Republican

Solid jobs growth in March shows recovery is for real
Neither earthquake nor Mideast turmoil have stopped businesses from hiring
http://www.msnbc.msn.com/id/42377655/ns/business-eye_on_the_economy/?GT1=43001



Democrat Versus Republican Monthly Job Growth
http://bureaucountydems.blogspot.com/p/job-growth.html


A HISTORY OF RECESSION IN THE UNITED STATES 1950 TO 2008
http://bureaucountydems.blogspot.com/p/history-of-recessions.html

Economic Record
http://bureaucountydems.blogspot.com/p/economic-record.html

[Teaser]

43. THIS DOESN'T COUNT

BILLIONS are unemployed. This is a drop in the bucket.

[Zynx]

48. Billions in this country? Amazing.

[vaberella]

49. Counting isn't your strong suit huh? Last I checked we had a population of 330 million.

Billions in the world are most definitely unemployed. But not in the USA.

[Teaser]

50. IM COUNTING ANIMALS AND INSECTS

.

[Teaser]

51. AND SPIRITS

they are all unemployed.

[ReturnoftheDjedi]

44. Goooooobama!!!

[fujiyama]

46. This may be just anecdotal

but I've been getting calls pretty frequently, and this is just by throwing my resume on a couple job sites. I know a while ago, calls were quite rare. My buddy also got a pretty good offer this week after being out of work for some 9 months.

From what I can tell, automotive and heavy industry/manufacturing (CAT, etc) is hiring, which is definitely a good sign. There are more opportunities now, than there were a year ago.