Re: US employment surges in bright sign for recovery

On 5/10/2010 12:39 PM, Sid9 wrote:
>
> “Can You Hear Us Now” wrote in
> message news:4BE83069.8010909 @&*$?%blackhole.NebulaX.com…
>> On 5/8/2010 12:28 PM, liberal wrote:
>>> On May 7, 6:25 pm, Not Sure wrote:
>>>> On May 7, 3:13 pm, H&*$?%e wrote:
>>>>
>>>>
>>>>
>>>>
>>>>
>>>>> From Reuters,
>>>>> 5/7/10:http://www.reuters.com/article/idUSN0611505920100507?type=marketsNews
>>>>>
>>>>
>>>>> U.S. employment surges in bright sign for recovery
>>>>
>>>>> * Nonfarm payrolls grow at fastest pace in four years
>>>>
>>>>> * Private sector hiring up 231,000, four-year high
>>>>
>>>>> * Jobless rate rises to 9.9 pct as labor force swells
>>>>
>>>>> * Average workweek edges up to 34.1 hours
>>>>
>>>>> By Lucia Mutikani
>>>>
>>>>> WASHINGTON, May 7 (Reuters) -
>>>>
>>>>> U.S. employment grew at the fastest pace in four years in April as
>>>>> businesses ramped up hiring, suggesting the economic recovery was
>>>>> growing less dependent on government support.
>>>>
>>>>> Employers added 290,000 jobs last month, the Labor Department said on
>>>>> Friday, far more than analysts had anticipated.
>>>>
>>>>> In addition, 121,000 more jobs were created in February and March than
>>>>> previously estimated.
>>>>
>>>>> Private-sector job growth in April was much stronger than expected,
>>>>> with government hiring for the decennial U.S. census a secondary
>>>>> factor.
>>>>
>>>>> Officials have kept the economy on life support with record low
>>>>> interest rates and a $787 billion package of government spending and
>>>>> tax cuts, and the report eased fears the recovery could falter as the
>>>>> support fades.
>>>>
>>>>> “This is now a recovery that could survive the withdrawal of the
>>>>> policy support that we have in place. The missing pieces of the jigsaw
>>>>> are there now, labor market conditions are picking up and
>>>>> strengthening,” said Paul Ashworth, senior U.S. economist at Capital
>>>>> Economics in Toronto.
>>>>
>>>>> The unemployment rate, however, rose to 9.9 percent as discouraged
>>>>> workers started to look for work again.
>>>>
>>>>> Stubbornly high unemployment has been a political sore spot for
>>>>> President Barack Obama and his fellow Democrats, even though the job
>>>>> market is showing increased vigor after its battering during the worst
>>>>> recession since the 1930s.
>>>>
>>>>> “We’ve got to be mindful that today’s jobs numbers, while welcome,
>>>>> leave us with a lot of work to do. It’s going to take time to achieve
>>>>> the strong and sustained job growth that is necessary,” Obama told
>>>>> reporters at the White House.
>>>>
>>>>> …………………………………………………………………­……………………………………..
>>>>>
>>>>
>>>>> Private-sector employment increased 231,000, the largest gain since
>>>>> March 2006.
>>>>
>>>>> Analysts had expected private payrolls to rise between 50,000 and
>>>>> 100,000.
>>>>
>>>>> Like overall employment, private payrolls have now grown for four
>>>>> straight months.
>>>>
>>>>> Census hiring contributed 66,000 jobs in April.
>>>>
>>>>> …………………………………………………………………­…………………………..
>>>>>
>>>>
>>>>> Last month, manufacturing payrolls saw their largest gain since 1998
>>>>> and construction employment defied expectations of a fall.
>>>>
>>>>> Service sector payrolls advanced for a fourth month, and temporary
>>>>> help hiring also rose.
>>>>
>>>>> Also encouraging, the length of the average workweek rose to 34.1
>>>>> hours from 34 hours in March.
>>>>
>>>>> “This adds materially to the upward trend in labor demand and labor
>>>>> income and will support and sustain consumer spending,” said Bill
>>>>> Cheney, chief economist at John Hancock Financial Services in Boston.
>>>>
>>>>> The upbeat report was tempered by the rise in the number of people who
>>>>> had been out of work for 27 weeks or more to 6.7 million.
>>>>
>>>>> That represented a record 45.9 percent of the total 15.3 million
>>>>> unemployed in April.
>>>>
>>>>> In addition, a broad measure of unemployment that includes workers who
>>>>> want a job but have stopped looking and those working part time for
>>>>> economic reasons rose to 17.1 percent from 16.9 percent in March.
>>>>
>>>>> But the improving labor market tone is encouraging Americans to take
>>>>> on some debt.
>>>>
>>>>> Total U.S. consumer credit rose $1.95 billion in March after dropping
>>>>> $6.21 billion in February, a Federal Reserve report showed.
>>>>
>>>>> __________________________________________________________
>>>>
>>>>> We’re gettin’ there. Yup. That hopey changey things starting to work.
>>>>
>>>>> Harry
>>>>
>>>> Yes, the unemployment rate did surge. Ouch, did you really mean to
>>>> admit that?
>>>
>>> Okay, here’s a logic problem for ya: did new unemployment applications
>>> rise over the same period?
>>>
>>> Ya see, for “more” people to be unemployed, by your implied
>>> definition, would require same of the previous reporting period’s
>>> workers to now be unemployed. If there was no sudden rise in
>>> unemployment applicatios, why that means those “additional” unemployed
>>> must have come from another group….unemployed but not counted as
>>> unemployed…..
>>
>>
>> Show us the net gain in jobs….
>>
>>
>>
>>
> .
> .
> A hell of a lot better than Republican bush,jr’s record!
>
>
So the net gain was that bad?