288,000 Jobs Created in April (UE Rate Down at 5.6%)

CNBC | May 7, 2004

[RWR8189]

288,000 jobs were created in April. The unemployment rate down at 5.6%

Details to come...

[Poohbah]

I smell a rope-a-dope which isn't too difficult when dealing with Dems and RINOs....

"Rope-a-dope...it's how Ali beat Foreman in Zaire. Everyone thought the champ's arms had given out, that he was running on empty...but Ali was just setting Foreman up."

[Rutles4Ever]

Dang, I wish I shared your optimism. I'm thinking oil prices + inflation + higher interest rates = economic slowdown this fall... Not very good timing, if you ask me... The only potential positive is that the heated up economy may create more jobs. But at the rate it's going, any trepidation in the marketplace can pull the rug out from under the recovery... Just being honest.

[No Dems 2004]

THANK GOD!!!

This is only slightly below the staggering figure of 308,000 for the month of April. The US Economy isn't just growing - it's BOOMING!

And the Prez could use a bit of good news these days from the look of it - at least this won't hurt him.

[jwalsh07]

March revised up to 337,000. April clocks in at 288,000. Business cycle lives!

[demlosers]

Hooray! Higher interest rates!

First hike probably between June 15 and August 30th.

[dakine]

Adding jobs, adds expenses, sell-off, I watch QQQ....

[Rutles4Ever]

Maybe earlier. June 30-year is getting killed right now.

[demlosers]

Sniff...sniff..Waaaah!

[mlbford2]

I was talking to my wife about this last night. I agree with you. We are baffled why inflation is not higher with oil and milk prices so high. Yes, milk. Going up .50cents a gallon. Milk will drive inflation just like oil. I'm curious what basket of goods the fed is measuring to get its lack stance on inflation. The next few months should be interesting.

[new cruelty]

What happened to your nifty graphic / avatar?

[Mad Dawgg]

"288,000 jobs were created in April. The unemployment rate down at 5.6%'

And still no pony...

We ARE DOOOOOMED!!!

[Rutles4Ever]

I like to use the Cap'n Crunch Indicator. If a box of Cap'n Crunch stays below $3.00 at the discount grocer, we're okay. Two weeks ago, it jumped to $3.49. The other thing to watch out for is this: Stagnant prices, but smaller containers... That's a fancy trick. Not many people notice when they're getting 2 oz. less of cereal per box, but that's a fairly large production decrease when looked at across the board... inflation.

[Maigrey]

well, I know the price increase on milk was a subsidy from the fed to milk farmers (and that $.50 is getting passed onto consumers.) I knew it was coming, and I buy my milk at a wholesale place (where the milk is a loss leader.)

I'm waiting for the I word ~October. Remember, the Dim phrase is, "It's the Economy, stupid!"

[Lunatic Fringe]

138,576,000 non-farm payrolls

This is a RECORD NUMBER OF PAYROLLS, folks! We have NEVER had this many people employed.

Get the word out!

[John H K]

Well, you have to consider the ENORMOUS amount of money people spend on home electronics and computers, and consider how the prices of those items just keep dropping and dropping....

[RWR8189]

That is the total employment from the Household Survey, isn't it?

I think payrolls are still down about 1.5 mil since the recession began.

[Lunatic Fringe]

I think payrolls are still down about 1.5 mil since the recession began.

Incorrect, sir....

According to the BLS:

January 2001= 137790
April 2001= 137275
July 2001 = 137091
October 2001 = 136447
January 2002 = 135715
April 2002 = 136096
July 2002 = 136478
October 2002 = 137079
January 2003 = 137447
April 2003 = 137578
July 2003 = 137604
October 2003 = 138095
January 2004 = 138566
April 2004 = 138576

[Poohbah]

The pundits predicted about 178,000 new jobs - they underestimated by 100,000.

You didn't spell "misunderestimated" correctly...

[RWR8189]

Ok, because I have been looking at this table from BLS:

2000 194 146 493 308 231 -25 160 -28 89 30 183 124
2001 -53 104 15 -271 1 -150 -115 -141 -267 -361 -332 -212
2002 -165 -90 43 -68 2 25 -111 11 -47 83 -37 -209
2003 94 -159 -110 -20 -28 -14 -45 -25 67 88 83 8
2004 159 83 337(p) 288(p)

And that doesn't show total payrolls, but it shows them off still about 1.5 million since 2000.

[Lunatic Fringe]

I apologize. Yes, I was looking at household surveys and not total payroll.

Still... they are both good signs. My job would not be included in the payroll survey, because I am an independent computer consultant. And since the recession began, I technically "lost" 3 payroll jobs.