March figures show biggest job gains in three years

[shira]

Edit: My commentary on this news: The economy is obviously slowly recovering. This latest jobs report just reinforces that notion. But it would be absurd to expect that unemployment rates and the overall economic landscape will return to what we had during the utopian Clinton era. I will take several more years to recover from Bush's mishandling of the economy and the totally unnecessary war in Iraq.

OK, let's hear the new righty spin on this one. Let me guess: If not for the pinko-commie Obama and his spendthrift ways, there would have been 1,000,000 new jobs in March.

Anyway, back to planet Earth:

http://money.cnn.com/2010/04/02/news/economy/jobs_march/index.htm?hpt=T1

NEW YORK (CNNMoney.com) -- The economy had its biggest jump in jobs in three years in March, according to a government report released Friday.

The Labor Department said the economy gained 162,000 jobs in the month, compared to a revised reading of a 14,000 job loss in February. That makes March only the third month since the start of 2008 that employers did not cut payrolls.

Economists surveyed by Briefing.com had forecast a gain of 184,000 jobs. But the March number was generally not seen as a disappointment even though it fell slightly short of the consensus forecast, because revisions in January and February readings added a combined 62,000 additional jobs.

While the news was positive, there were a number of short-term factors that inflated the reading, including an addition of 48,000 by the Census Bureau as it geared up for the once-in-a-decade headcount of the U.S. population. Some economists had feared that even more of March's gain would be due solely to Census hiring, so the modest gain was viewed favorably.

March's job gain was also bolstered by weather factors -- February's numbers had been depressed by temporary job losses related to severe winter storms last month.

Still, the addition was good news for an economy that has suffered a net loss of 8.2 million jobs since the start of 2008, a month after the official start of the recession.

And the gains were spread across various sectors of the economy -- 60% of industries added jobs -- the most widespread gains seen across the economy in four years.

That rising tide of hiring brought relief to some long-suffering sectors of the economy. Construction added 15,000 jobs, the first increase of any kind in the sector since June 2007. Manufacturing also added 17,000, with 2,500 of that gain coming at auto plants and their parts suppliers.

Retailers added nearly 15,000 jobs and leisure and hospitality accounted for 22,000 more jobs.

January's reading was revised from a loss to a gain of 14,000 jobs, and February's job loss was also narrowed in the revision. The only other month with even a modest job gain was November 2009, when there was a net gain of 64,000 jobs.

The unemployment rate held steady 9.7% in February, matching economist expectations.

Come on righties, spin, spin, spin.

 

[Anubis]

nm

 

[dank69]

It's Bush's fault.

 

[Hacp]

Unemployment at 10% and you call that a gain? Plus you have census workers, all temporary, being counted. The fact is that you need to be adding 100,000 jobs per month to absorb all the new people entering the market. Economists don't project that to happen any time soon.

 

[daishi5]

OK, let's hear the new righty spin on this one. Let guess: If not for the pinko-commie Obama and his spendthrift ways, there would have been 1,000,000 new jobs in March.

Anyway, back to planet Earth:

http://money.cnn.com/2010/04/02/news/economy/jobs_march/index.htm?hpt=T1

Come on righties, spin, spin, spin.

What is there to spin? The job numbers were inflated by census hiring. If this is the start of a trend that would be a great thing. But, Obama can't exactly claim credit for the Census happening this year. Not to mention, I think this is the second longest recession in our history. Would it be a huge surprise that the recession would finally end? Don't get me wrong, I think Bush deserves a huge amount of blame for extending the recession. But, if Obama's great achievement here is doing better than Bush, we have set the bar rather low.

 

[Cuda1447]

Awesome. Despite how much I dislike a LOT of Obama's policies, I am glad to see this. You know what else I like to see? Drilling off the coast of Florida for oil, something Bush wouldn't do. Hey, look at that, a 'rightie' complimenting Obama.


Next time I criticize him though, realize it's not HIM that I'm criticizing, it's his policies/ideas.

 

[boomerang]

Come on righties, spin, spin, spin.

You know that old saying...you are what you eat.

 

[Greenman]

I don't think the righties need to spin it, the lefties already have it doing 25,000 rpm's.

 

[heyheybooboo]

It's going to be a long, slow slog for job recovery --- we knew this a year and a half ago.

My worry is that there will be a new 'low' ---- instead of 4-4.5% being considered 'full employment', we've lost so much of the economy that 5.5-6% might become the new standard ...

Unless the American Economy goes on a McJob binge.




--

 

[Descartes]

What is there to spin? The job numbers were inflated by census hiring. If this is the start of a trend that would be a great thing. But, Obama can't exactly claim credit for the Census happening this year. Not to mention, I think this is the second longest recession in our history. Would it be a huge surprise that the recession would finally end? Don't get me wrong, I think Bush deserves a huge amount of blame for extending the recession. But, if Obama's great achievement here is doing better than Bush, we have set the bar rather low.

And that's noted in the article, but if you take away the Census jobs the numbers are still impressive it would seem.

This is a great potential pivot for the economy. Let's celebrate that and not make it a partisan issue.

 

[IndyColtsFan]

Glad to see the growth in jobs, but unemployment is still way too high so let's see if this growth continues in the coming months.

 

[boomerang]

And that's noted in the article, but if you take away the Census jobs the numbers are still impressive it would seem.

This is a great potential pivot for the economy. Let's celebrate that and not make it a partisan issue.

Well you know we could, but shira decided to make this a call out thread.

 

[irishScott]

Well you know we could, but shira decided to make this a call out thread.

Took the words out of my mouth.

 

[Descartes]

Well you know we could, but shira decided to make this a call out thread.

That's a bit like throwing dirt at a child in the playground because he started it, isn't it? What's wrong with taking the higher ground?

Someone is always there to throw dirt. At some point we have to choose to ignore it and carry on with something productive, imo.

 

[dullard]

Look at chart #2. Then think what happened before the stimulus package and what happened after. Facts are facts. No spin necessary (from either side).

 

[Hacp]

Look at chart #2. Then think what happened before the stimulus package and what happened after. Facts are facts. No spin necessary (from either side).

No causation seen.

 

[dullard]

No causation seen.

Because when money goes to Americans from the government, it just disappears?

 

[nonlnear]

Because when money goes to Americans from the government, it just disappears?

A small but not insignificant percentage of it does precisely that.

 

[boomerang]

That's a bit like throwing dirt at a child in the playground because he started it, isn't it? What's wrong with taking the higher ground?

Someone is always there to throw dirt. At some point we have to choose to ignore it and carry on with something productive, imo.

Your child analogy is very apropos. So turn the other cheek eh, I've heard of that.

Read his post again. His only commentary is to slam those with whom he doesn't agree. Someone recently said, "To those who cling to power through corruption and deceit and the silencing of dissent, know that you are on the wrong side of history, but that we will extend a hand if you are willing to unclench your fist."

shira would do well to unclench his fist.

 

[EagleKeeper]

Seperate the increase of employment between the government and private sectors.

If the private sector is growing for a 3 month stretch, then the corner has been rounded.

A month to month swing is stagnation

 

[ProfJohn]

OK, let's hear the new righty spin on this one. Let guess: If not for the pinko-commie Obama and his spendthrift ways, there would have been 1,000,000 new jobs in March.

Specifically which Obama policy caused the sudden jump in job creation??

 

[shira]

No causation seen.

Go back and re-read the righty posts in the concealed-carry thread and hone your "correlation = causality" argument, then come back to this thread when you're prepared to be consistent.

 

[dullard]

Specifically which Obama policy caused the sudden jump in job creation??

Why do you think there was a sudden jump?

 

[shira]

Your child analogy is very apropos. So turn the other cheek eh, I've heard of that.

Read his post again. His only commentary is to slam those with whom he doesn't agree. Someone recently said, "To those who cling to power through corruption and deceit and the silencing of dissent, know that you are on the wrong side of history, but that we will extend a hand if you are willing to unclench your fist."

shira would do well to unclench his fist.

My commentary was a direct response to an unnamed troll's very recent "more jobs lost" thread. Now that the news is "more jobs gained," all the intellectually honest trolls who posted in THAT thread will naturally tell us about their new-found economic optimism because of the March jobs numbers. Not.

 

[shira]

Let us summarize the salient details:

During Bush's last year in office, the economic picture was steadily INCREASING monthly job losses.

During Obama's term in office, the economic picture (see the graph at the top) has been steadily DECREASING monthly job losses, and now at last we see a significant job gain.

Conservative President = more and more job losses.

Liberal President = fewer and fewer job losses, and now a gain.