Re: US employment surges in bright sign for recovery

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:
>>
>>
>>
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>>> 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….