Report released today shows biggest jump for job growth in three years, so maybe things are really starting to turn around. If it keeps up, well... we will see about that 'dems getting slaughtered in Nov...' :seeya:
apparently you didn't read the entire release.... where it stated there was ZERO change in the unemployment numbers? not even by a hundreth of a percent based on 15 million out of work... now, what does that mean in language you might understand (but obviously don't)?? it means that 162,000 or an equal number were layed off... numbers don't lie... but your Chief sure does.. my business volume doubled in the last 10 weeks, and I didn't have to hire anyone back, in fact, I fired one... :seeya:
the slaughter begins... :bump:
March jobs report shows growth
By Chris Isidore, senior writerApril 2, 2010: 9:53 AM ET
NEW YORK (CNNMoney.com) -- The U.S. economy gained more jobs in March than any other month in the last three years, 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 of gains since the recession began three years ago.
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Economists surveyed by Briefing.com had forecast a gain of 184,000 jobs. But despite missing forecasts, the March number was generally not seen as a disappointment by economists, because revisions in January and February readings added a combined 62,000 additional jobs.
The unemployment rate held steady 9.7% in February, matching economist expectations.
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. Some economists had feared that even more of March's gain would be due solely to Census hiring, so the modest gain was viewed favorably.
March's job gain was also bolstered by weather factors -- February's numbers had been depressed by temporary job losses related to severe winter storms last month.
0:00 /2:14Freelance jobs on the rise
Still, the report was good news overall 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.
A rising tide
The gains were spread across various sectors of the economy -- 60% of industries added jobs -- the most widespread gains seen across the economy in four years.
That rising tide of hiring brought relief to some long-suffering sectors of the economy. Construction added 15,000 jobs, the first increase of any kind in the sector since June 2007. Manufacturing also added 17,000, with 2,500 of that gain coming at auto plants and their parts suppliers.
Retailers added nearly 15,000 jobs and leisure and hospitality accounted for 22,000 more jobs.
A deep hole
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.
While the report was good news for job seekers, it also contained sobering readings for the depth of labor market pain that has built up over the last two years.
There are 15 million people counted as unemployed, down 607,000 since the record high hit in October, but still the fifth highest total on record. The average time those unemployed have been out of a job now stands at just under eight months, a record-long duration.
Almost 1 million more have become so discouraged that they've stopped looking for work altogether and are no longer counted in the unemployment rate. However, the number of discouraged job seekers fell by just over 200,000 since February, an indication that job seekers are also sensing an improving market and are again looking for work.
The average hourly work week crept up 0.1 hours in March, an indication that employers are restoring the hours of employees who had their shifts and pay cut during the recession. But there are still 9.1 million people working part-time jobs who want to be working full-time, up more than 250,000 since February.
Since the labor market is still so weak, the downward pressure on wages continues, as the average hourly wage slipped 2 cents to $22.47.
But the longer average work week lifted the average weekly paycheck by $1.57 to $763.98. Taken as a whole across the economy, that will put more money into consumers' pockets and help spur more spending, which in turn should produce more hiring into the future.