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Sannyasi
04-01-2011, 03:04 PM
http://money.cnn.com/2011/04/01/news/economy/jobs_report_unemployment_march/index.htm?hpt=T2

March jobs report: Jobs gain, unemployment falls

NEW YORK (CNNMoney) -- Improvements in the job market may finally be taking hold, as strong business hiring last month brought the unemployment rate down to its lowest level in two years.

The economy gained 216,000 jobs in the month. That's better than the gain of 180,000 predicted by economists surveyed by CNNMoney, and also a significant improvement over the 194,000 jobs added in February.

"Almost two years after the recession officially ended, the labor market appears to finally be picking up," said Kathy Bostjancic, director of macroeconomic analysis for The Conference Board.

The unemployment rate continued to edge down, dropping to 8.8%, the lowest level since March 2009. The unemployment rate has shed a full percentage point in the last four months, the largest four-month drop since 1984.

"The unemployment rate has broken through the sound barrier and is continuing to decline," said Sung Won Sohn, economics professor at Cal State Channel Islands. "The recovery in employment is here to stay."

While the payroll numbers are compiled from a survey of employers, the unemployment rate is determined by a separate survey of workers, which also showed significant improvement.

The number of discouraged job seekers who want to work but have given up actively looking was down slightly, as was the number of workers who wanted full-time jobs but could only find part-time work. Another encouraging reading -- the number of people who lost their jobs during the month was down by 125,000, falling to the lowest level in two years.

"It's strong across the board," said Tig Gilliam, president of the North American unit of job placement firm Adecco. "Is it as fast as we'd all want? Probably not, but it's moving in the right direction and it continues to accelerate."
Who's hiring and who's not

Private businesses added 230,000 jobs. Since businesses started hiring again a year ago, they have now added 1.8 million jobs, with nearly a third of those jobs added in just the first three months of this year.

The trend in business hiring is widespread, with 68% of industries adding jobs so far this year. Among the leading sectors were business and professional services, which added 78,000 jobs, health care and social services, which brought on 44,000 workers, and leisure and hospitality, which increased staffing by 37,000.

One closely watched sector, temporary workers, grew by nearly 30,000. That is important because many businesses will bring on temporary staff as a prelude to making permanent hires.
0:00 /2:39Long-term jobless woman finds a job

But while businesses continued to bring on new staff, public sector employers trimmed 14,000 jobs during the month, mostly at the local government level.

Local government staffing, which includes teachers, police and fire fighters as well as other administrative jobs, held up pretty well in the first 18 months of the recession while business payrolls were plunging. But those payrolls have now lost more than a quarter-million jobs in the last 12 months, with more than half coming from public schools.

And there is still continued pain for those without work. There are 13.5 million people who are unemployed, and another 6.5 million who would like a job but are not officially counted as unemployed because they're not looking.

Of those who are counted as unemployed, 45% have been out of work for six months or longer, and the average length of unemployment is a record 39 weeks.

Even with March's encouraging readings, climbing out of the 8.7-million job hole created during the recession will take a long time.

Economists say the labor market typically needs at least 300,000 new jobs each month to make a significant difference in the unemployment rate, and at least 150,000 just to keep pace with population growth.

"Job growth still isn't strong enough to bring the unemployment rate down rapidly," said Paul Ashworth, chief U.S. economist for Capital Economics. "If the rate is only falling by 0.1% each month, it would take another three and a half years to get back down to the pre-recession level."

redsurfer11
04-01-2011, 05:28 PM
60,000. were part time seasonal hiring by the Home Depot. Most will be laid off during the summer.ROFL

mikey23545
04-01-2011, 05:34 PM
And there is still continued pain for those without work. There are 13.5 million people who are unemployed, and another 6.5 million who would like a job but are not officially counted as unemployed because <strike>they're not</strike>they've given up looking.


8.8% my ass.

chiefsnorth
04-01-2011, 05:56 PM
When you consider that 20% are hurting if you include underemployment, this doesn't say a whole lot. What would it be without seasonal hiring?

Good that we added some jobs, but this says nothing about the real problem which is the federal government spending money faster than they can even keep track

durtyrute
04-01-2011, 09:22 PM
The only reason unemployment is down is because people stop filing.

Sannyasi
04-01-2011, 10:50 PM
The only reason unemployment is down is because people stop filing.

That and the 230,000 private business jobs that were added in the past month. There is every reason in the world to be skeptical about the current state of the economy, but I don't see how any reasonable person could construe this as being anything other than good news.

redsurfer11
04-02-2011, 09:57 AM
That and the 230,000 private business jobs that were added in the past month. There is every reason in the world to be skeptical about the current state of the economy, but I don't see how any reasonable person could construe this as being anything other than good news.

Do you see any HOMES being built? This economy WILL NOT improve until we start building again. That won't happen. There's a ton of homes flooding the market. It will get worse this month when banks start raising rates and points.

Chief Henry
04-02-2011, 10:58 AM
Obama will want to hang his hat on this report for sure.

Stewie
04-02-2011, 02:35 PM
13% of all homes in the US are vacant. 13%!!!!! That's the real number. These gov't statistics are so full of BS that it's unconscionable. Wake up!

alanm
04-02-2011, 07:29 PM
That and the 230,000 private business jobs that were added in the past month. There is every reason in the world to be skeptical about the current state of the economy, but I don't see how any reasonable person could construe this as being anything other than good news.What also skews the numbers are the people who dropped off the grid because their unemployment finally ran out. After all if you can't find some kind of job after 2 years your free ride should be over.

alanm
04-02-2011, 07:30 PM
Obama will want to hang his hat on this report for sure.I'm sure he was all over it today. :spock:

ClevelandBronco
04-02-2011, 07:35 PM
That and the 230,000 private business jobs that were added in the past month. There is every reason in the world to be skeptical about the current state of the economy, but I don't see how any reasonable person could construe this as being anything other than good news.

If you believe the report means much of anything, God bless you.

FD
04-02-2011, 07:52 PM
What also skews the numbers are the people who dropped off the grid because their unemployment finally ran out. After all if you can't find some kind of job after 2 years your free ride should be over.

Those don't skew the number that matters, 230,000 new jobs. The headline unemployment rate isn't very informative for a lot of reasons, but 230,000 represents very solid job growth.

ClevelandBronco
04-02-2011, 08:03 PM
230,000. Killer. We're on a roll now.

If there were 208,000 jobs created a month (that's the average monthly rate for the best year of job creation this decade, according to Brookings), it would take 11.5 years to reach the pre-recession employment levels. If 321,000 jobs were created each month (the average monthly rate for the best year of job creation in the 1990s), it would still take almost five years.

http://www.walletpop.com/2010/12/02/how-many-jobs-do-we-need-for-the-recession-to-go-away/

Obama needs to create 230,000 jobs each and every month consecutively from September through November 2016 in order for the total jobs lost to be put back into the labor force, and that an optimistic (if more realistic) projection of jobs returning to the work force means the return the baseline will occur in 2019.

http://www.zerohedge.com/article/obama-must-create-230000-jobs-month-until-end-his-second-term-return-breakeven-charting-new-

One needs at least 125,000 and some estimate up to 300,000 permanent full time jobs, added each month just to keep pace with U.S. civilian workforce population growth. That's not general population, that's the group needing a job. To even get back to pre-recession unemployment rate levels we need a good 424,000 jobs created each month.

http://www.economicpopulist.org/content/unemployment-96-august-2010

ChiefaRoo
04-02-2011, 09:49 PM
230,000. Killer. We're on a roll now.

If there were 208,000 jobs created a month (that's the average monthly rate for the best year of job creation this decade, according to Brookings), it would take 11.5 years to reach the pre-recession employment levels. If 321,000 jobs were created each month (the average monthly rate for the best year of job creation in the 1990s), it would still take almost five years.

http://www.walletpop.com/2010/12/02/how-many-jobs-do-we-need-for-the-recession-to-go-away/

Obama needs to create 230,000 jobs each and every month consecutively from September through November 2016 in order for the total jobs lost to be put back into the labor force, and that an optimistic (if more realistic) projection of jobs returning to the work force means the return the baseline will occur in 2019.

http://www.zerohedge.com/article/obama-must-create-230000-jobs-month-until-end-his-second-term-return-breakeven-charting-new-

One needs at least 125,000 and some estimate up to 300,000 permanent full time jobs, added each month just to keep pace with U.S. civilian workforce population growth. That's not general population, that's the group needing a job. To even get back to pre-recession unemployment rate levels we need a good 424,000 jobs created each month.

http://www.economicpopulist.org/content/unemployment-96-august-2010

I'm from the Government, I'm here to help you.

Sannyasi
04-02-2011, 09:58 PM
If you believe the report means much of anything, God bless you.

I believe it is good economic news at a time when there isn't much to be optimistic about.

ClevelandBronco
04-02-2011, 10:36 PM
Well, you and your sunny disposition are certainly a breath of fresh flower-filled air.

RJ
04-02-2011, 10:51 PM
Given a choice of more jobs or less jobs I will take more jobs every time.

It's still pretty damn bad, though. I see a resumes daily from people who probably should not be out of work.

mlyonsd
04-04-2011, 08:29 AM
McDonald's to hire 50,000 workers - in 1 day

<!-- PURGE: /2011/04/04/news/companies/mcdonalds_jobs/mcdonalds_employee.gi.top.jpg --><!-- KEEP -->By Aaron Smith, staff writerApril 4, 2011: 8:06 AM ET
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NEW YORK (CNNMoney) -- McDonald's said Monday that it is planning a one-day hiring spree of 50,000 new workers on April 19 for its U.S. restaurants.

McDonald's (MCD (http://money.cnn.com/quote/quote.html?symb=MCD&source=story_quote_link), Fortune 500 (http://money.cnn.com/magazines/fortune/fortune500/2010/snapshots/2262.html?source=story_f500_link)) said that these new "Mcjobs" will include crew and management positions, part-time and full-time.

McDonald's, which has 14,000 restaurants in the United States, said the hires will occur nationwide.

"We're excited to offer 50,000 new jobs, all across America, all in one day," said Jan Fields, president of McDonald's U.S.A.

Fields, who started working at a McDonald's restaurant as a crew member behind the counter in 1978, said the 50,000 new hires will increase the U.S. workforce to 700,000 from its current level of 650,000.

She said the average pay for the jobs is $8.30 an hour. That's compared to the federal minimum wage of $7.25 an hour, though in some states the minimum wage is higher. She said that restaurant managers can make $50,000 a year.
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Saul Good
04-04-2011, 08:34 AM
I believe it is good economic news at a time when there isn't much to be optimistic about.

Do you believe that we are being tied to?

vailpass
04-04-2011, 10:27 AM
That and the 230,000 private business jobs that were added in the past month. There is every reason in the world to be skeptical about the current state of the economy, but I don't see how any reasonable person could construe this as being anything other than good news.

QUOTE=Forward Dante;7533735]Those don't skew the number that matters, 230,000 new jobs. The headline unemployment rate isn't very informative for a lot of reasons, but 230,000 represents very solid job growth.[/QUOTE]



:LOL: Politician's dream.