Latest Diablo 3 News
DiabloWiki Updates
Support the site! Become a Diablo: IncGamers PAL - Remove ads and more!

308,000 New jobs last month

Discussion in 'Off-Topic' started by Freemason, Apr 2, 2004.

  1. Freemason

    Freemason Banned

    Joined:
    Feb 16, 2004
    Messages:
    3,156
    Likes Received:
    0
    Trophy Points:
    0
    308,000 New jobs last month

    US March Job Growth Surprises with Strength
    By Tim Ahmann

    WASHINGTON (Reuters) - U.S. employment rose last month at the fastest pace in nearly four years as hiring increased across a wide array of industries, the government said on Friday in a surprisingly strong report that stunned financial markets.

    The report offers comfort to President Bush as the jobs market -- a hot political issue in the U.S. presidential campaign -- finally made a decisive break out of a long slump. Nevertheless, U.S. jobs lost since Bush took office still number a hefty 1.8 million.

    Non-farm payrolls climbed 308,000 in March, helped a bit by the return of workers after a labor dispute at California grocery stores ended, the Labor Department said. This was the biggest gain since April 2000 and well above the 103,000 rise expected on Wall Street.

    The big jump in March payrolls stood in sharp relief to the average gains of around 75,000 seen in the prior six months.

    The unemployment rate, which is determined by a separate survey, ticked up to 5.7 percent from the two-year low of 5.6 percent seen in January and February.

    The stock market opened strongly, the value of the dollar shot higher and U.S. bond prices plunged as investors were caught flat-footed by the labor market strength.

    Rest of story

    Compare the unemployment numbers from 1996 to today. Remember how great the job market looked in 1996? Unemployment then was 5.6%. So for those who insist on whining about how terrible the job market is, could it be the reason you can't find a job is because they were filled while you wallowing in self-pity?
     
  2. Dirty_Zulu

    Dirty_Zulu IncGamers Member

    Joined:
    Mar 29, 2004
    Messages:
    1,580
    Likes Received:
    0
    Trophy Points:
    466
    Just a quick glimps shows:

    1.8 mil jobs losses
    308k gain.

    Net diff is still 1.5 mil loss.

    How about this.

    1 mil high tech job lost.

    300k low paying jobs created

    How about

    1 mill jobs lost that makes 80-120k a year

    300k minimum wage jobs created.

    You can twist it anyway.
     
  3. guspasho

    guspasho IncGamers Member

    Joined:
    Jun 22, 2003
    Messages:
    382
    Likes Received:
    0
    Trophy Points:
    122
    Given that unemployment also grew as we gained all those jobs there will most likely be another major revision for last month like last month. What was the revised figure for job growth last month? Something like 10% of the original figure? I'll bet that didn't earn any threads here.
     
  4. nnndave

    nnndave IncGamers Member

    Joined:
    Jul 16, 2003
    Messages:
    1,542
    Likes Received:
    1
    Trophy Points:
    346
    word. holy crap its late i'm going to bed. zzzzzzz
     
  5. SquareRootOfBob

    SquareRootOfBob IncGamers Member

    Joined:
    Jun 22, 2003
    Messages:
    472
    Likes Received:
    0
    Trophy Points:
    98
  6. Steve_Kow

    Steve_Kow Banned

    Joined:
    Sep 20, 2003
    Messages:
    2,860
    Likes Received:
    0
    Trophy Points:
    0
    No the figured were revised upwards. The reason the umemployment rate ticked a bit higher is because people who had given up looking for work are trying again.
     
  7. guspasho

    guspasho IncGamers Member

    Joined:
    Jun 22, 2003
    Messages:
    382
    Likes Received:
    0
    Trophy Points:
    122
    When I said last month I mean the last time they released figures, so figures for February.

    Steve, I could be wrong, but wasn't it that they originally said we gained 120,000 jobs in February, and then revised it to something closer to 12,000 jobs?

    EDIT: Okay nevermind, I was mistaken. The initial figure was 21,000, the prior estimate was 125,000. I still can't find a revised figure.

    http://www.washingtonpost.com/wp-dyn/articles/A32756-2004Mar5.html
     
  8. IDupedInMyPants

    IDupedInMyPants Banned

    Joined:
    Jul 7, 2003
    Messages:
    2,522
    Likes Received:
    0
    Trophy Points:
    0
    Even taking the 308,000 at face value, job growth that is slower than work force growth is not real growth. This is like being happy that you got a raise to 1200 a month while you have 1500 a month in bills to pay.
     

Share This Page