Skip to comments.Employment jumps in March, jobless rate falls (8.8%)
Posted on 04/01/2011 5:55:26 AM PDT by Red Badger
WASHINGTON (Reuters) - U.S. employment recorded a second straight month of solid gains in March and the jobless rate fell to a two-year low of 8.8 percent, marking a decisive shift in the labor market that should help to underpin the economic recovery.
Nonfarm payrolls rose 216,000 last month, the largest increase since May, the Labor Department said on Friday. January and February employment figures were revised to show 7,000 more jobs than previously reported.
The strong job gains come amid indications the economy suffered a minor setback early in the year as bad weather and rising energy prices dampened activity.
"All the evidence is pointing to a strengthening labor market," said Bill Cheney, chief economist at John Hancock Financial Services in Boston.
While the report indicated sufficient underlying strength in the economy to cushion it against the impact of high energy prices, it was not strong enough to discourage the Federal Reserve from its ultra-easy monetary policies.
Policymakers at the U.S. central bank are, however, debating whether they should start considering withdrawing some of their massive economic stimulus.
The private sector accounted for all the new jobs in March, adding 230,000 positions after February's 240,000 increase. Government employment fell 14,000, declining for a fifth straight month as local governments let go 15,000 workers.
(Excerpt) Read more at finance.yahoo.com ...
Seasonally adjusted of course.
Look for TOTUS to crow about how socialism works in 3..2..1..
I wonder how many were added by the birth/death ratio (a number that is almsot always too high). I’m guessing almost 100,000.
Well, slavery works, too. 100% employment...................
We will miraculously see 7.9% before the election heats up, since the media deemed 8% unemployment as the worst a president can do to get reelected.
what a crock...
I wonder how many of these ‘new jobs’ are in GOVERNMENT?...............
Out of the March Madness comes the April Fools.................
Yep. I sure am curious as to what happened to those who gave up the job search. Did they find under-the-table work or did they drop off the face of the earth?
Bump for later when FReepers analyze the detail numbers.
They are cooking the books in a microwave.................
Its called spring.
More lies, damn lies, and statistics.
I would not believe ANYTHING out of the MSM
or government connected organizations.
Odd how things are getting better...except for everyone I know.
Great! I figured that sooner or later, despite the best efforts of the right wingers to destroy the economy, Obama’s policies would come shining through, and bring back prosperity.
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