Why the April jobs report is better than you think

scheming daemons

(1000+ posts) Send PM | Profile | Ignore

Fri May-07-10 07:43 AM
Original message

Why the April jobs report is better than you think

Edited on Fri May-07-10 07:51 AM by scheming daemons

Not only did the US economy add 290K jobs in April.... here's the hidden good news:

- Only 66K of those were from census hiring

- Manufacturing rose by 44K.... the largest increase since 1998.

- The unemployment rate went to 9.9% because 800,000 people re-joined the labor force who were previously discouraged to the point of giving up.

- January, February, and March numbers were all revised upward.... a total of 120K more jobs were created in those months than previously reported.

Jobs, jobs, jobs. Obamanomics... specifically, the stimulus.... is working.

Printer Friendly | Permalink | | Top

NJmaverick

(1000+ posts) Send PM | Profile | Ignore

Fri May-07-10 07:52 AM
Response to Original message

1. K&R

Printer Friendly | Permalink | | Top

ipaint

(1000+ posts) Send PM | Profile | Ignore

Fri May-07-10 07:57 AM
Response to Original message

2. Did those 800,000 find jobs?

Or does looking for work again now not count as being officially unemployed.
The U6 number is up again and long term unemployed also jumped again.

The spin on a rise in unemployment is unbelievable. Who knew, up is the new down.

Printer Friendly | Permalink | | Top

dmallind

(1000+ posts) Send PM | Profile | Ignore

Fri May-07-10 08:52 AM
Response to Reply #2

3. Those 800,000 didn't have jobs to begin with

They are at least now looking for them.

Please tell me how you reacted to knows of the U3 AND U6 rates declining a few months ago because people left the workforce because I'm guessing you thought it was the workforce number that mattered then.....

Printer Friendly | Permalink | | Top

ipaint

(1000+ posts) Send PM | Profile | Ignore

Fri May-07-10 09:59 AM
Response to Reply #3

6. And they weren't counted.

That means the official unemployment rate has been artificially low for a while, just like the so called "doomers" said. So the masses of uncounted unemployed are now surfacing to look for work and they are competing for 66,000 temporary (as in weeks) census jobs, 188,000 statistically added ghost jobs the BLS think may exists and about 36,000 confirmed real jobs.

Of course we have that pesky number of 150,000 jobs a month needed just to accommodate folks new to the job market.

The spin on this is right out of the bush/conservative playbook. The investor class has it memorized.

Printer Friendly | Permalink | | Top

dmallind

(1000+ posts) Send PM | Profile | Ignore

Fri May-07-10 10:37 AM
Response to Reply #6

8. Correct because they stepped out of the workforce willingly.

If you don;t look you can't find.

BTW implied is 550 not 290. That's teh B/D ratio at work. They can't allocate new people to industries and that's where the 230K came from - the survey responses of 50,000 phone calls.

Printer Friendly | Permalink | | Top

Change Happens

(1000+ posts) Send PM | Profile | Ignore

Fri May-07-10 08:54 AM
Response to Original message

4. Yes, it was an excellent report ---- Thank you Mr. President!!!

Printer Friendly | Permalink | | Top

NJmaverick

(1000+ posts) Send PM | Profile | Ignore

Fri May-07-10 10:11 AM
Response to Reply #4

7. +1

Printer Friendly | Permalink | | Top

taught_me_patience

(1000+ posts) Send PM | Profile | Ignore

Fri May-07-10 09:25 AM
Response to Original message

5. 66k census hiring is NOT a good thing in the report

temporary jobs that go away. Manufacturing jobs and the upward revisions were good. To attribute this to the stimulus is dubious. It probably has more to do with quantitative easing than anything else.

Printer Friendly | Permalink | | Top

dmallind

(1000+ posts) Send PM | Profile | Ignore

Fri May-07-10 10:37 AM
Response to Reply #5

9. Well then we'll have to make do with the 231K private sector jobs. NT

Printer Friendly | Permalink | | Top

DU AdBot (1000+ posts)

Fri May 03rd 2024, 08:23 AM
Response to Original message

Advertisements [?]

Top

Powered by DCForum+ Version 1.1 Copyright 1997-2002 DCScripts.com
Software has been extensively modified by the DU administrators

Important Notices: By participating on this discussion board, visitors agree to abide by the rules outlined on our Rules page. Messages posted on the Democratic Underground Discussion Forums are the opinions of the individuals who post them, and do not necessarily represent the opinions of Democratic Underground, LLC.