Over 300,000 new jobs for March

ah would you like fries with that?

 

"writerguy: ah would you like fries with that? "

Exactly.

 

Bush's Spokesman gave me the best laugh at a press briefing when asked-
Where are all the new jobs? What should we be retraining people for?
The only thing he could come up with was "...well over 300,000 people are now making a living selling stuff on ebay. Also Bio Tech and Pharma are doing well."

Lets see???... we should retrain our people to get a PhD in medical feild or sell crap on ebay Well at least we have choices. LOL



I am glad we finally got a great job report. Lets hope this is a trend and not a one time spike.

 

Home Depot and a couple of others are exceptional companies good luck with that

Wallmart is hiring lots of people too... (Greencards we don't need no stinking green cards..."

but many of the "new" jobs are not much to look at

 

Get me one of those Home Depot employee discounts

(plan on either building or buying this summer)

and you have a friend for life

 

Bye Bye Kerry.. Better luck in 2008.

 

This report was released early by mistake today on Yahoo!!! We saw some HUGE selling of interest rate and bond futures right before the official release time of 1.30 PM london time.Haven't seen such big downmoves for a long time......

 

300,000 jobs? That is all. Pssh, that is nothing!

Kerry can do 10 million jobs in the next 4 years! Now that is real growth.

 

You know what I say: tough ****!! Where is it guarranteed in the Constitution you have the RIGHT to a white-collar job paying $200,000 a year? Someone please give me that article. In the 1950's guys who sold blocks of ice were put out of business by the invention of refrigerators, and at the turn of the century guys who manufactured carriages were put out of business by the invention of the automobile, and in the with the invention of sewing machines many seamstresses lost their jobs and so on and so on and so on. It's called progress, too bad. I for one do not wish to live by candlelight so that some guys can still make their living by casting candles. Read the book WHO MOVED MY CHEESE and then realize that in America you can do whatever you want. What's wrong with people making their money on ebay? If you could sell a product on ebay and make a living and spend more time raising your kids or enjoying your hobbies or driving your Ferrari or whatever RATHER than wearing a suit and tie and slaving away to the illusion of "climbing the corporate ladder" and getting that gold watch and the safety net of a "steady paycheck" is there something wrong with that? The entrepreneurial spirit is what made this country great!

 

Tony, my stupid alarm clock did not go off this morning because we had a power flicker last night. So I slept through the damn announcement and found out what happened to the EURUSD when I woke up 2 hours later!

Let's just say that I did not put on a happy face today...I feel robbed

 

The economy didn't really create any jobs - The government is just writing checks that our treasury has to borrow money to cash.

Let's look at the jobs report. First, consider that it included >150k striking workers returning to work. Next note that the unemployment rate actually ROSE .1% and total hours worked (despite the new jobs) actually was LOWER.

BUT HERE IS THE REAL KICKER...

I know you won't believe me, so I'll link you over to the bls.gov site so you can see the raw data yourself:

Civilian employment actually DROPPED by 3000.
http://www.bls.gov/news.release/empsit.nr0.htm

So where is the employment increase?
Check the box for GOVERNMENT and see for yourself!
http://www.bls.gov/webapps/legacy/cpsatab5.htm

Non-seasonally adjusted increase of 371,000 Government workers (20137 - 19791) and a seasonally adjusted increase of 439,000 (19936 -19497)!!!

In short, the increase in hiring is purely government job increases (real or imagined). Looks like an election year!


I thought the Republicans were for *small* government?!

-Slim

 

John,
that may have been a blessing in disguise! If you have Bloomberg access, have a quick look at RXM4 commodity GIP.It's the time and sales for Bund future.To say someone had the early wire on the figure is the understatement of the year!
Implied vols of STIR and Bond option contracts got smoked after the numbers; ATM straddle prices were on average 5-7 ticks cheaper and that's AFTER moves of 20-35 ticks in the underlying....
Not a good day for me......

 

That really sucks. I hope there's a grain of truth to the good news and it's not all just spin. We need the recovery and the jobs. I have a suspicion that the army reservists being called to active duty account for a lot of those being counted as governmental workers. Maybe the BLS has changed its methods but when I took Econ many years ago, it was pointed out as one of the more common tricks used to paint a rosy picture. While it doesn't make for big government, it also does not make for a job recovery.

Thanks for posting this Slim. I am hoping some more details will emerge in the next day or two and it won't be a complete debunking of the good news.

 

slim,
whether or not those returning strikers are counted, they were equally counted as UNemployed at an earlier date, which may have skewed a previous count negatively - ie the 2 cancel each other out, and your point is therefore invalid.

secondly, please explain the count cited in tkbaird's post listing what industries raised employment, given your contention that all these jobs were govt jobs......

 

Sorry Slim, I know it's painful for the "We Hate Bush" club to see positives every where they turn, especially in categories that they thought were real "winning issues" that they could create some more talking points over, but alas, it's true. There is a real, palpable and numerically verifiable recovery, following the shortest recession (inherited) in history BTW. I know it's just killing the dems to see basic principles like letting people keep more of the money they work for actually works in stimulating an economy but it's true. Kerry will no longer be able to run around with his "chicken little" comments after another solid month of numbers, Wall Street agrees, as does consumer confidence and Kerry's sagging polls in not only terrorism related issues but now economic ones as well. But of course, since we are Americans we should be HAPPY that things are looking bright, correct?

 

It's not my "contention" that they were government jobs. It's the governments contention they were! Look at their own report: it's clear that they are showing a 300-400,000 increase in government jobs. Since the total gained was less than that, then one must assume that those the industries tkbaird mentioned had gains, other civilian industries had signifiant losses.

As for the 150,000 from formerly striking workers, that was broadcast on bloomberg radio but i guess they were mistaken (or are closet kerry supporters, huh?)

Don't forget that the unemployment rate actually rose. So if any jobs were created, it's less than were needed obviously.

 

And true to democratic hypocrisy and paranoia, the average unemployment rate for the 4 years of Bush's term has actually been a few hundredths of a percentage point LESS than it was during any time during Clinton's 8 yrs. And yet Clinton was America's savior, the greatest president ever, he had "figured out economic cycles and figured out how to eliminate BAD cycles" supposedly BUT NOW with a repub in the White House the SAME unemployment rate is horrendous and the sky is falling.

 

Like I said, there has got to be something TRUE for you to use to show why you don't like the Dems. But this, clearly, isn't true.

Go find the following numbers and post the links where you found them:

1) average unemployment rate since jan 2001
2) lowest unemployment rate during any moment of january 1993 to january 2001

I'm not going to do your work for you. Start here: http://www.google.com


(hint: look at clinton december 2000 (3.7%). it hasn't been 4.7-6.3% through bush's term).

 

NO you are wrong, these figures have been quoted by partisans on both sides for the last month and a half. The rates are IDENTICAL. I have better things to do right now than play on google. Sorry you can't accept the truth. BTW, Bush will win.

 

10 seconds on google brought up this page:

http://data.mnwfc.org/lmi/laus/detail.asp?geog=0000000000&adjust=0


Look at dec 2000 for Clinton's lowest of 3.7.
Bush hasn't gotten anywhere near that ever, thus his average can't be lower than Clinton's best ever.

What you have heard in the media is that the rate now, is similar to the AVERAGE rate in the 1990s. Not the lowest at any given point, like you said. The difference in those two statements is great.

Clinton started high (8%) and ended low, thus had an average in the middle. Bush started low and has grown higher and is now steady and has an average in the middle.

Take your pick.