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 ...
So how did figures get released today? How were those compiled?
The unemployment rate will continue to steadily DROP until it reaches Below 8% by NOV ‘12..
I don’t have to smell something cooking when the RAT is in the Corner!!
Unless the government comes up with a way to placate the FSA, there will be rioting.
I figured this number has been pretty much discredited since obama has been cooking the books.
is it GWBush low or Barak Obama low?
4% inflation is different per MSM if it a republican 4% or a democrat 4%.
there are employers who will not hire a person unless they already have a job.
This is to screen out deadweights, left-because-they-sued-the-employer, and host of other troublemaker issues.
This does hurt those whose companies folded or have just finished school.
It’s done by polling, not by actual figures from the BLS............
0bama has been playing with the unemployment numbers. During 0bama’s administration, our population has grown by 6,324,000 and we have lost 3,460,000 jobs!
At the end of 2008, the labor force level was reported to be 154,669,000 or 50.7% of the population. Therefore, (154,669,000 - 143,324,000) / 154,669,000 = 7.3% unemployment.
To calculate the current unemployment rate in comparison, first get the current labor force, (0.507 X 311,122,000) = 157,878,000. Unemployment rate = (157,878,000 - 139,864,000) / 157,878,000 = 11.4% unemployment!
Dec 2008: 143,324,000 (population 304,798,000)
2009
Jan: 142,201,000
Feb: 141,687,000
Mar: 140,822,000
APr: 140,720,000
May: 140,292,000
Jun: 139,978,000
Jul: 139,794,000
Aug: 139,409,000
Sep: 138,791,000
Oct: 138,393,000
Nov: 138,590,000
Dec: 137,960,000 (population 307,439,000)
2010
Jan: 138,511,000
Feb: 138,698,000
Mar: 138,952,000
Apr: 139,382,000
May: 139,353,000
Jun: 139,092,000
Jul: 138,991,000
Aug: 139,267,000
Sep: 139,378,000
Oct: 139,084,000
Nov: 138,909,000
Dec: 139,206,000 (population 308,745,538)
2011
Jan: 139,323,000
Feb: 139,573,000
Mar: 139,864,000 (population 311,122,000)
sources:
http://data.bls.gov
http://www.census.gov
Do you understand that the jobless claims and the non-farm payroll numbers are from two different surveys?
Plus, it’s apples and oranges in a second way:
The jobless claims are a GROSS number. It’s a grand total.
The non-farm payroll number is a NET number.
IOW, the non-farm payroll number (+216K, -175K, whatever it might be) is the DIFFERENCE — THE NET CHANGE — between the total non-farm payroll jobs in the prior month and the total non-farm payroll jobs in the current month.
Thank You Rush wrote:
**** So how did figures get released today? How were those compiled? *****
Calif Conservative:
In (or approximately) the second week of each month, the BLS:
1. does its survey of households (for the monthly jobless rate)
2. does its survey of employer payrolls, from check stubs, (for the monthly non-farm payrolls #)
so for the March info that was released on 4-1-11 (one day after the end of March), the survey had actually been done about 3 weeks earlier, in the first week or two of March.
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