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 ...
Very good.
None of these numbers make sense to me. I think there is pretzel logic that allows people to come to happy conclusions, but to me all of this looks like BS.
The headline unemployment rate has nothing really to do with actual job creation.
U3 as it’s known, is largely a modeled, surveyed and derived number and has been highly manipulated for several Presidencies now.
Use U6, it’s a better, truer indicator.
I’m sure all of those jobs were full time, high paying, benefit provided jobs. I’d sure like to find one of those.
OK, back to my part time, low paying, no benefits, just barely able to pay for my gas and taxes job.
What’s going to happen though when gas prices go to 4.50 or 5.00 an hour along with continued food & energy inflation?
Remind me NOT to use John Hancock Financial Services.
Yes it`s been April fools ever since Obama took over.
Although this is somewhat good news, it appears to be a ruse! All the talking heads were expecting the rate to go up this month. Seems a lot of folks are no longer looking for work and are not considered in the percentage. IMHO, the rate is closer to 9.1.
I call BS!
Figures courtesy of the 0bama regime: April Fool!
” I call BS! “
This is an old tactic - dangle something shiny in front of the Media to distract them from the multitude of ongoing disasters.....
It will be interesting to see what numbers are reported when the next wave of college grads hits the workforce. Real problem is that many of them are practically illiterate.
The way they’re cooking these numbers the Bush Administration would have -10% unemployment!
8.8%? It ain’t happening people!
“Happy Days Are Here Again”, sez the MSM and the libs.
RIIIIIIIIIIIIIIGHT......(walkin’ away, shakin’ my head and spittin’ on the ground)
Good one!
“”March ended 9 hours ago...stats already?
what a crock...””
My thoughts exactly - good to see your post before I posted the same thing. When have they ever gotten figures out that fast? They couldn’t even have gathered numbers from employers that fast. Who is going to believe them anyway? Well, there is still an ignorant bunch of voters out there who will fall for anything!
Fun with numbers!
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.