Economy adds 162,000 jobs as recovery builds

[harry_pothead]

Source: MSNBC

WASHINGTON - U.S. non-farm payrolls, a key measure of the economy's health, rose in March as the private sector stepped up hiring at the fastest pace in almost 3 years.

Read more: http://www.msnbc.msn.com/id/36146930/ns/business-stocks_and_economy/

---

I poured myself a shot of Bacardi Rum and cheered. (Yes i know it's early but I'm on Spring Break ;P)

[cal04]

1. U.S. economy adds 162,000 jobs in March

http://www.marketwatch.com/story/payrolls-rise-162000-best-gain-in-three-years-2010-04-02-83000
U.S. economy adds 162,000 jobs in March -- biggest one-month pickup in three years

The U.S. economy created 162,000 jobs in March, the largest seasonally adjusted increase in nonfarm payrolls in three years, the Labor Department reported Friday.

Nonfarm payrolls rose for just the second time in the past 27 months, boosted by the hiring of 48,000 temporary workers to conduct the Census. Excluding the Census workers, payrolls rose by 114,000.

The unemployment rate was steady at 9.7%, with the labor force rising by 398,000.

The report was largely in line with expectations. Economists surveyed by MarketWatch were forecasting a 200,000 increase in nonfarm payrolls, with about half of those coming from temporary hires at the Census Bureau. Economists expected the unemployment rate to remain at 9.7%.

(snip)
Health care added 27,000 jobs.

[Robb]

2. I blame Obama.

:evilgrin:

[RUMMYisFROSTED]

3. Over and above the replacement rate?

[NJmaverick]

4. Yes it exceeded the replacement rate

[RUMMYisFROSTED]

7. Good news.

[FreeStateDemocrat]

5. 48,000 temporary Census workers part of 600,000 total.

[Hosnon]

6. This graph has become fairly popular so here's the updated version:

[Kingofalldems]

8. And Yes!

[bighart]

9. How many of those are temporary census jobs?

Not to be a party pooper, just curious.

[onenote]

11. 48,000, which is less than was forecast

The total job gain of 162,000 is less than the forecast gain of 184,000. But the 184,000 forecast gain was based on 100,000 temporary census job adds plus 84,000 other new jobs. The actual numbers show only 48,000 temporary census job adds, which means a better than forecast result on other, non census jobs.

[totodeinhere]

22. But 40,000 of those jobs were other temporary jobs.

And how many of the new non temp jobs were low wage jobs flipping burgers or delivering pizzas? I don't consider this good news at all.

[onenote]

24. and a year ago there was a net loss of over 60,000 temp jobs

I don't think you fully understand the category of "temporary help services".

Here's a link that might help: http://www.bls.gov/oco/cg/cgs039.htm

[totodeinhere]

29. Don't be so damned condescending. Of course I understand the nature of temporary jobs and I don't...

need an education on the subject from you. Thank you.

[onenote]

30. condescendng? I was just trying to be helpful. You sound awfully defensive

Chill.

[rocktivity]

33. Not all temporary jobs are low-wage, low-status "temp" jobs

To save money on trivialities like benefits, profit sharing, and pensions, a lot of larger companies hire contractors, consultants or long-term "indefinite" temps. Technically, they're employees of the agencies that recruit, screen and assign them, and the bigger agencies can offer some benefits including health insurance and 401Ks.

I have a co-worker who "temps" at the rate of $43 an hour, and he's been with the company for four years.

:headbang:
rocktivity

[high density]

10. ADP can shove their BS from earlier this week where the sun doesn't shine.

Let's hope we can now stay in positive job growth for the rest of time. :)

[flyarm]

12. Did you miss little Timmy's presser yesterday or today??

I guess you completely missed Timmy's little speeches ??????

About a Jobless recovery and how unfair it is to the American people????Did you miss it?? or are you playing fast and furious with A SLIVER OF SUNSHINE UP EVERYONES ASSES?

a few hundred jobs aren't going to do jack shit for the millions and millions out of work..a ray of sunshine..means very little if nothing at all!

Without a serious plan to put Americans back to work..this is nothing..that can't be erased by the middle of next month when they re-adjust the freaking numbers..like they have been doing every time there is a smidgen of an uptick..check back the next month and the numbers are negated!



GOOGLE IS YOUR FRIEND..OR TURNING ON THE TV AND SEEING HIS FACE ALL DAY YESTERDAY AND TODAY TALKING ABOUT A JOBLESS RECOVERY!!!!!!!!!

http://uspolitics.einnews.com/news/timothy-geithner

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XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX

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[Tansy_Gold]

13. But but but but but.......

They adjusted january and february's numbers, too, to show more job growth or less job loss or something like that.

And you can't trust ADP's numbers because, well, they weren't as good as the administration's numbers which are absolutely 100% accurate because the administration wouldn't lie to us not ever.

And just because hourly wages fell by 2 cents an hour and the measure of unemployed and underemployed is now higher than it was, hey, ignore all that. Ignore the rising rate of mortgage delinquencies and foreclosures because after all they lag behind job growth. Blame it all on the weather, which is sure to be nothing but sunshine and soft breezes (never mind a potential hurricane or tornado or flood or something).

:sarcasm:




Just so you all know -- I cheer for every real job that has been created and every real person who has gone to work and found financial security -- or at least the hope for such -- as a result of anything. But I trust these numbers about as much as I trust my dog not to chase a cat.


Tansy Gold

[tonysam]

15. +10,000 n/t

[OhioChick]

31. Well Said n/t

[TheWatcher]

36. Although I completely agree with you, my dear Tansy, you might as well be screaming at a blank tape

The Rainbow Recovery Rah-Rah crowd is going to believe anything that puts their "Football Team" in a good light, and that makes them feel like things are better.

They don't want to know the Truth, which is pretty good for them, because the way we have evolved into a complete Propaganda State, they have little access to it any way.

And when the next wave of the Crisis that never ended hits , and Wall Street's latest Bubble Bursts and everything is ONCE AGAIN revealed for the charade it is, it still won't matter.

As soon as the Propaganda ramps up, they will forget everything they should have learned from the last round.

Just like they did in 2000, Just like they did in 2003, and Just like they have during what is still "The Great Recession."

Modern America's "Superior Ignorance" is going to make the 1930's German's "Superior Indifference" seem enlightened and informed.

Take Care, my friend.

And Good Luck to you as always.

:hug:

[Bette Noir]

20. What's your point?

[LongTomH]

14. Excuse me! How many of those jobs were filled by American workers?

As opposed to foreign workers on 41B visas?

[Tansy_Gold]

16. How many paid a living wage? how many had benefits?

How many were permanent jobs?

How many were in manufacturing or manufacturing-related?

How many were dead-end?



TG

[high density]

19. Whatever they are, it sure as heck beats -700k jobs created.

But I guess people still need something to whine about.

[Mithreal]

28. Nation of whiners. It's all in their heads. Numbers tell the whole truth.

[flyarm]

34. on our Florida news..48,000 of those jobs were temp jobs for the census!

48,000..are temp jobs!!

Do be nice to the Census workers..they damn well need those temp jpbs...but to count them in these numbers is absurd!

[tonysam]

17. The REAL recovery

The top 25 managers of US hedge funds took home a record $25.33 billion in 2009, according to the new issue of the industry journal AR: Absolute Return+Alpha. The unchecked moneymaking in 2009 marked a dramatic reversal from the crisis year of 2008, when the top 25 took home “only” $11.6 billion. It surpassed even the heady days of 2007, when they combined for $22 billion.


This almost unfathomable level of personal enrichment exposes President Barack Obama’s Wall Street bailout. With the official unemployment rate near 10 percent, and with every level of government slashing jobs, education, and social programs, a small handful of individuals have—through sheer financial manipulation—reaped one-year profits counted in the billions.


The biggest gainer in 2009 was David Tepper, head of Appaloosa Management, who took home $4 billion. In late 2008, when the share values of the major banks were crashing, Tepper correctly wagered that Obama would carry on the Bush administration’s efforts to prop up the finance industry. Tepper invested heavily in the twice-bailed out insurance giant, American International Group (AIG), which the Treasury Department determined could not be allowed to collapse because of the threat posed to its politically-connected counter-party, Goldman Sachs.

WSWS

[Bette Noir]

18. Finally. But, I won't consider the recession over

until my buds who are out of work (most of them for over a year) are working again.

[totodeinhere]

21. 88,000 of those new jobs were temporary jobs including census jobs.

And meanwhile the unemployment rate remained at 9.7%. This doesn't seem like very good news to me. And of course we know that the real unemployment rate is much higher than 9.7%.

I am not going to smooth things over and try to make it look like the economy is getting better just because there is a Democrat in the White House now.

[high density]

23. If only we could go back to March 2009

and start losing 650k jobs a month again. Those were the good times!

[onenote]

25. other examples that you wouldn't view as an improvement

You suffer a debilitating disease that causes you to suffer increasing paralysis. First month you lose the use of a couple of fingers, next month, more fingers and some toes. After a year or so, you've lost the use of your arms and legs and if things continue along the same direction and pace, you're going to lose the ability to speak, hear and see. But the deterioration stops and, instead of losing your hearing, speech and sight, you actually begin to regain feeling in your toes. First one toe, and then a couple of more. Its going to take a long time before all of your extremities are functioning again, maybe never.

But you wouldn't think things have gotten better for you.

[Hosnon]

26. I honestly don't understand the mental block some people have with this subject.

Things are getting better, that is an undeniable fact. Are things as good as we'd like? No. But we're on the right track.

[flyarm]

35. stoppppp..you are making a fool of yourself..Timmy was all over TV yesterday saying things are not

getting better for the American worker and they won't be getting better for some time to come!

so who knows better..you or Timmy Geithner??????????? well i wouldn't bet on either of you..but.........

So stop with the bullshit! You are getting beyond absurd!

8 million people out of work that can not get jobs..162,000 jobs last month and 48 thousand of them are temp workers to do the Census..those are not sustainable jobs..nor do they have even a smidgen of security!

So stop with the bullcrap..you are looking pathetic..by the time those numbers are re-adjusted, as in all the previous months lately..thses numbers could well be as bogus as the claims in Dec/Jan & FEb were..lets just see what are the real numbers!

[Mithreal]

27. Good thing Obama fixed those fundamentals of the economy

Wait, what?

[tabasco]

37. Waaaaaaah!

I want utopia NOW!!

[TheWatcher]

38. Atta Boy! Good Dog!

[Mithreal]

39. I am shocked and chagrined that you, tabasco, would see it that way.

When do we address the fundamentals?

Never mind, I just want utopia, right.

[Xenotime]

32. Good to see the economy is on the rebound.