U.S. job growth soars

Well, here's a piece of good news if it's accurate.

U.S. payrolls grew at the fastest pace in nearly four years in March, the government said today. The jobs report exceeded Wall Street's expectations and could influence the Federal Reserve Board's interest rate policy and the presidential election. The Labor Department says 308,000 jobs were added in March, but the unemployment rate rose from 5.6 to 5.7 percent.

money.cnn.com...

Hopefully things will continue to pick up with more jobs coming.

not necessarily...jobs have increased but unemployment is still up. " The unemployment rate rose from 5.6 percent in February to 5.7 percent in March." More full time workers are now turning to part time jobs. Factories are still not hiring and many companies still have a freeze on hiring.

Does this report include the nearly 2500 jobs that will be lost when Gateway closes all its stores? What about software maker Sun Microsystems Inc.? The company plans to cut 3,300 jobs.

Well, I'm not saying it's all good news but at least people are finding jobs out there. That would be ashame to see employees loose their jobs though.

well some are going to find jobs, but people still continue to lose them. One month of semi-good stats means nothing compared to 4 years of bad-stats. A little too late in my opinion for Bush.

forgot to mention, we really need to bring back all those jobs that being outsourced to other countries.

[Edited on 4-2-2004 by worldwatcher]

speaking of the jobs being outsourced to other countries... it's just going to get bigger and bigger...

In a way, can you really blame a business owner, send the work overseas and save a ton of money.

I can honeslty say though, I think if I were a business owner, I would do my best to try to keep it all right here in the good ole USA ! I hope !

I think the title of this is a little misleading isn't it?

More people got jobs but even more people lost them.

Soars ??

Like a fridge soars ?

Well,I'll hand it to you, you are an optimist!

good point - explain to me exactly how unemployment went up and so did job growth ? that doesnt make any sense , unless US corps are hiring out of the country or new workers in the USA have entered workplace - no?

Originally posted by John bull 1
I think the title of this is a little misleading isn't it?

More people got jobs but even more people lost them.

Soars ??

Like a fridge soars ?

Well,I'll hand it to you, you are an optimist!

No. You're right John. It is misleading but I just posted what CNN has on their website. The job growth IMO hasn't soared. I wonder why CNN would post that? Maybe the government told them to.

I won't say anything about unemployment, because I absolutely agree with that. I am not sure how we added so many jobs, yet there is more unemployment. . . .

The part-time thing though is a VERY small portion of the entire job situation. Take a look here:

www.bls.gov...

Look at the "Part time for economic reasons," and "could only fine part-time work." Those figures are a VERY small portion of the over-all total.

IMHO if you want a really good "yeah but" the unemployment situation is your best bet. I think EVERYONE was thinking that when they heard that news.

-P

Originally posted by worldwatcher
not necessarily...jobs have increased but unemployment is still up. " The unemployment rate rose from 5.6 percent in February to 5.7 percent in March." More full time workers are now turning to part time jobs. Factories are still not hiring and many companies still have a freeze on hiring.

Does this report include the nearly 2500 jobs that will be lost when Gateway closes all its stores? What about software maker Sun Microsystems Inc.? The company plans to cut 3,300 jobs.

WW, you have to admit that something is better than nothing though. Don't get me wrong, I am not defending Bush, but rather rooting for the economy. Hopefully the American public aren't so sheep-like anymore that they truly believe this is Bush's doing.

-P

Originally posted by worldwatcher
well some are going to find jobs, but people still continue to lose them. One month of semi-good stats means nothing compared to 4 years of bad-stats. A little too late in my opinion for Bush.

forgot to mention, we really need to bring back all those jobs that being outsourced to other countries.

[Edited on 4-2-2004 by worldwatcher]

don't get "me" wrong. I'm all for the economy too, my future depends on it and this is bit of news was good for the market...but as I said..

Until the say, Oops, we did it again! In May.. and not only were the march numbers off by 200k.. the ones from Feb were off too.

I really think they have outsourced the number crunching to Arthur Anderson. Mark my words, this number will be revised.

Did anyone see in any of the stats if any of the growth came from outsourcing?

-P

The reason unemployment went up even though more jobs were added is because the number of people entering the workforce outpaced the number of people being hired.

thats because for a while manufacturing stoped firing people
so it looked like more people were hireing.

its still not making any jobs.

Although this article is a little outdated (pre-9-11, I think), it makes some interesting points about the unemployment rates. Here's a quote:

Full employment" has for some time been taken to mean 5.0 to 6.0 percent unemployment. This isn't exactly a praxeological construction, and we have good reason to be uncomfortable with the notion of a fixed natural rate of unemployment. Can't the full-employment level of unemployment change on the basis of changes in the underlying economic realities? Of course, it can. But what do we make of the current unemployment rate of 4.1 percent? Has the natural rate itself fallen by a percent or so? Or is the current unemployment rate almost a whole percentage point below the natural rate? We should be receptive to an affirmative answer (plus a good argument) to either of these last two questions.

The article implies that having an unemployment rate is bad for an economy. I think a great example of this would be the dot com debacle. Also, if unemployment is way down, the country can't really grow, because people aren't looking for jobs. So if you start a new company, you can't hire anyone, because no one is looking. It stagnates business.

Here's a link to the article, I thought it was an interesting read, both about unemployment and the economy's growth rate.

Give it a whirl: www.mises.org...

OK

here it is 13:05 hrs and the Market is UP 105 points!

[if your savvy you'd be buying for shorting later on]

if you are really savvy, you realize that 'jobs' aren't
necessarily long-term career positions!
or even 'gainful-employment'

i'm just learning SPIN 101

Originally posted by riffraffalunas
OK

here it is 13:05 hrs and the Market is UP 105 points!

[if your savvy you'd be buying for shorting later on]

if you are really savvy, you realize that 'jobs' aren't
necessarily long-term career positions!
or even 'gainful-employment'

i'm just learning SPIN 101

If you're savvy you'll be buying bonds today.

I think there is another factor about jobs not being reported. And, maybe some others can contribute and add to what I'm saying here, and that is salaries/ pay. I know a lot of people that are losing jobs only to take the same job somewhere else, for less. Especially in my sector, which is IT. Granted, that is to be expected to extent when the economy sucks and all, but I think that is something we're not hearing about.

The economy and the job market are booming at levels not seen for some 20 years, but blind liberals will due their best to denounce the good news. So typical.

And..

Mean while, half of John Kerry's campaign just went right down the #ter. LOL His campaign add that scolds Bush and the job market debuted today... The same day this report was released showing that the job situation is far from a disaster. I just had to laugh!

[Edited on 3-4-2004 by kramtronix]

[Edited on 3-4-2004 by kramtronix]