[NevadaGhosts]

US job growth down 50% in March

$this->bbcode_second_pass_quote('', 'T')he Department of Labor said non-farm payrolls grew 110,000 in March, having gone up by 243,000 the month before.

[OilsNotWell]

If one really looks in detail at how this so-called 'job-growth' is calculated, I think most reasonable people will get the impression these numbers are about as reliable as playing badminton in a hurricane..

They're bogus, in my opinion - massaged data (for example the way net job creation/destruction is glossed over, and the fact that 'what type of jobs' being 'created' is not taken into account... If even the massaged data begins to look bad and is undeniable to the Pollyannas, then it is even worse than they say.

As they say, put some lipstick on that pig, close yer eyes, and pucker up!

[Jack]

As you say, NevadaGhosts, at least a recession. And considering that every sort of stimulus is already being used by the Fed and the Congress, one wonders what they'll try.

Given the service economy, higher fuel prices, and the discretionary nature of many purchases, we could have a rapid contraction of economic activity suddenly. Were that to happen, the depression you mention could be upon us in short order.

[arretium]

This is old news. The new April report comes out tomorrow. It should be another fun day on Wall Street.

[EnemyCombatant]

I read somewhere that about half of the newly created jobs during the Bush regime went to Hispanics.

The article later said that wages for Hispanics were decreasing.

I'll let you guys do the deductive reasoning.

[frankthetank]

New report came in a@ 274K jobs for April...a lot higher then what forecasters were predicting.

[linlithgowoil]

$this->bbcode_second_pass_quote('', 'D')oesn't look good. Looks like as recession, then depression is in the works.

[DriveElectric]

$this->bbcode_second_pass_quote('linlithgowoil', '')$this->bbcode_second_pass_quote('', 'D')oesn't look good. Looks like as recession, then depression is in the works.

[EnemyCombatant]

Did anyone read my post above?

Seriously, research the types of jobs that are being created. It's difficult to find out this information because the media is hiding it. They rarely discuss it but when they do, they will concede that it's service and low paying jobs. Also a lot of termporary jobs.

This is why the economy is stagnant. It's like a deer caught in headlights. Investors are not optimistic and hence they are not moving away from bonds.

Let's all hope they can keep the charade going.

[smiley]

The February and March reports where also revised by 60.000 jobs up.

Jobs are not an offical statistic. THey don't get recorded anywere, but the numbers are the result of an elaborate model, which calculates job growth based on several economic indicators.

According to the financial TV here the tremendous job increase is probably the result of Bush tweaking the job growth model. That's why the market isn't too impressed by the numbers.

[SF_ENGINEER]

$this->bbcode_second_pass_quote('', 'S')eriously, research the types of jobs that are being created. It's difficult to find out this information because the media is hiding it. They rarely discuss it but when they do, they will concede that it's service and low paying jobs. Also a lot of termporary jobs.

[heyhoser]

"To my fellow Americans. Because America is winning the war on terrorism, I am pleased to anounce that America is safer. Therefor, our economy is growing and %100 of our exports are made right here in the USA.
For instance, the policy of my administration has created 100,000 jobs last month alone in the manufacturing sector at American businesses like McDonalds, Wal-Mart, and Toys-R-Us where the workers are paid 20 cents more than the minimum wage.
Now, Americans can afford our lifestyle of freedom and justice. God bless America, goodnight."

[frankthetank]

Looking locally, if you want a job, you could probably get one pretty fast. The downside is the wage is probably going to be 10/hr or less and it might not offer benefits.

[CarnbY]

Just saw an article in Norwegian newspaper Aftenposten, it stated: "Record number of new jobs in the US."

"274000 new jobs were created (...) that's almost twice as many as in March, and much higher than was expected"
"Financial minister John Snow was quick to conclude that the increase shows that George Bush's financial politics are effective"
"According to the financial minister 3.5 million new jobs have been created since May 2003. It is however not known how many jobs have been lost."

So Bush's fabulous policies have led to the increase in April, but I'm sure they had nothing to do with the low job growth in March That last sentence should also be pretty telling...