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In its closely watched monthly report, the Bureau of Labor Affairs announced Friday that the private sector generated a seasonally adjusted 121,000 jobs in March. The disastrous public sector job losses of the past two years have tapered off significantly, and the 1,000 government workers laid off in March only brought the total jobs created for the month down to 120,000. A weak showing.

(Calculated Risk)
The figure was 83,000 less than a consensus of experts had forecast and less than half the three-month average, the weakest March showing in three years and the slowest job growth in five months. The official unemployment rate fell to 8.2 percent.

The civilian labor force participation rate fell slightly to 63.7 percent and the employment-population ratio fell to 58.5 percent.

Data showed that those with jobs worked fewer hours.

The report was another reminder of the fragility of the economic upturn that has left millions out of work for longer than at any time since the 1930s. The question now is whether this is a one-month anomaly or the beginning of a fresh trend after several months of comparatively solid job growth.

“We see a lack of sustainability in terms of strong job growth,” Tony Crescenzi, a strategist at Pacific Investment Management Co. in Newport Beach, California, said in a radio interview on ‘Bloomberg Surveillance” with Tom Keene and Ken Prewitt. “This is still not strong enough to create escape velocity, which is to say an economy strong enough to make it on its own without additional monetary stimulus from the Federal Reserve.”
The number of officially unemployed is now 12.7 million with 5.3 million of those having been out of work for six months or longer. An alternative measure of unemployment called U6 includes part-time workers who want full-time work and some but not all of the millions of people who have become too discouraged to look for work. That number fell from 14.9 percent to 14.5 percent.

Revisions changed growth in payroll employment for January from 284,000 to 275,000 and in February from 227,000 to 240,000.

Here's what the job numbers have looked like for March in the most recent five years:

March 2008:  -95,000
March 2009:  -799,000
March 2010: +189,000
March 2011: +246,000
March 2012: +120,000

While the survey of business establishments showed the 120,000 increase, the BLS's monthly household survey (Current Population Survey) showed the number of jobs fell by 31,000. The CPS number is less focused upon because it is highly volatile. But when the economy is changing gears—falling into recession or beginning to build steam after a downturn—some analysts believe it provides a better view of where things may be headed in the next several months.

The BLS jobs report is the product of a pair of surveys, one of business establishments and the Current Population Survey of households. The establishment survey determines how many new jobs were added. The CPS provides data that determine the official "headline" unemployment rate, also known as U3. That's the number that is now at 8.2 percent.

Among other changes detailed in today's job report:

Retail: -34,000
Financial: +15,000
Constructon: -7,000
Transportation & warehousing:  
Leisure and hospitality: +37,000
Professional & business services: +31,000
Health care: +26,000
Manufacturing: +37,000

• The average workweek (for production and non-supervisory workers) fell to 34.5 hours.
• Average manufacturing hours fell to 40.7
• The average hourly earnings for all employees on private nonfarm payrolls rose by 5 cents to $23.39. Over the past year such earnings have risen 2.1 percent, compared with an inflation rate of 2.9 percent.

(Calculated Risk)

Originally posted to Daily Kos Labor on Fri Apr 06, 2012 at 06:12 AM PDT.

Also republished by Daily Kos, ClassWarfare Newsletter: WallStreet VS Working Class Global Occupy movement, and Progressive Hippie.

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Comment Preferences

  •  Didn't the Fed Say No More Stimulus, a Week or 2 (9+ / 0-)

    ago?

    We are called to speak for the weak, for the voiceless, for victims of our nation and for those it calls enemy.... --ML King "Beyond Vietnam"

    by Gooserock on Fri Apr 06, 2012 at 06:14:51 AM PDT

    •  Very worrying data - we're heariing no-go talk (2+ / 0-)
      Recommended by:
      a gilas girl, Brooke In Seattle

      just when we need go-go actions.

      And, with it being an election year, the likelihood of congressional action is?

      •  The Fed is talking down the economy (4+ / 0-)

        The Fed knows how investors are going to react to the minutes they release.

        The Republicans are hammering Bernanke and he can't move until the economy looks worse.  I think the Fed is trying to convince investors that QE3 may not be coming, so the stock market will take a hit.  Once things start looking bad, the Fed can jump in with a big QE3.  Unfortunately, the timing is not looking good for Obama.

        OTOH, Europe is still in a mess and Spain is looking like it's going to get pretty scary.  China has a housing bubble that's in the early stages of collapse.  The 2009 stimulus is almost gone, and nothing really changed since 2008.

        Obama needs to pull something out of his hat.

        •  I'm worried (2+ / 0-)
          Recommended by:
          pollwatcher, ItsSimpleSimon

          Somewhere in Bloomberg this AM I read about how the Republican attacks on the Fed are designed to restrain the Fed from doing more (like another QE) to boost the economy.

          Still the drop in U6 is nice to see and as long as the main unemployment continues to go down, most voters can be swayed that the economy is on track.  As long as September and October look OK for the markets and unemployment, we'll be OK.  I don't think the Republicans scare Bernanke much from what I can tell.

          Internationally there are so many reports of overcapacity among many sectors of the China economy, I'm wondering more about whenn and how that is going to impact us.

          I'm not liberal. I'm actually just anti-evil, OK? - Elon James White

          by Satya1 on Fri Apr 06, 2012 at 07:03:09 AM PDT

          [ Parent ]

        •  Barring an external shock (6+ / 0-)

          the economy is strong enough to not be a bigger issue than it is today.

          The massive bailout of Greece has managed to kick the can down the road for another 6 months or so in Europe.
            The American economy doesn't turn on a dime, so what we have going on now should continue for another 4 to 6 months.

            The BIG problem is the fundamental flaws in the economy, and the lack of political will to do anything about them.
            Wages are not keeping up with inflation. Recent college graduates still can't find decent paying jobs. In fact, good paying jobs are hard to find for everyone. Housing is still falling and will continue to fall for a long time to come. Health care in America is still failing and headed towards collapse. The banking system is still a parasite on the economy.

            These problems require drastic solutions, not tinkering around the edges. The reforms of the last few years were timid and insufficient by a large degree.

          “Take not from the mouth of labor the bread it has earned.” - President Thomas Jefferson

          by gjohnsit on Fri Apr 06, 2012 at 08:21:32 AM PDT

          [ Parent ]

      •  Barring another default in Europe (4+ / 0-)

        the economy is probably good enough to coast through to nearly the election.

          The problem is long-term. We've done nothing when it comes to fundamental reform of the economy, and financial system in particular.
           I'm thinking that there is no political will to do that without a full-blown economic crisis first.

        “Take not from the mouth of labor the bread it has earned.” - President Thomas Jefferson

        by gjohnsit on Fri Apr 06, 2012 at 08:12:19 AM PDT

        [ Parent ]

    •  Heard on NPR this morning (17+ / 0-)

      That Ben Bernanke was pondering why job growth looked so good the past few months, when the underlying rate of GDP growth didn't look adequate to explain it.  He seems to think it represented a correction of excessive layoffs from the panic in 2008, when employers let go more workers than in retrospect they needed to.  The explanation provided is that they are making up some of those job losses to get back to where current economic activity would have normal employment.

      There was also some speculation that normal seasonal adjustments in unemployment data may have overestimated job growth.  A warmer-than-average winter might have caused less construction job falloff than normal, which the seasonal adjustment might have missed.  Now, spring adjustments might just be correcting that systematic error.

      Not sure which might be correct.  Whatever the reason, we need more job growth.  The president had better be campaigning for some sort of stimulus this spring and summer.  He won't get it, but shifting the blame for job stagnation to the Republicans is at least some consolation prize.

      When Free Speech is outlawed, only outlaws will have Free Speech.

      by Dallasdoc on Fri Apr 06, 2012 at 06:24:42 AM PDT

      [ Parent ]

      •  It's more likely seasonal adjustments IMO (8+ / 0-)

        Seriously, here in Chicago our February was like late April, and our March was like June.  

        The trees are already green and it usually never gets green before May.  

        The seasonal adjustments are simply no longer seasonally appropriate.

      •  warmer than average winter (3+ / 0-)
        Recommended by:
        Dallasdoc, jrooth, TomP

        so now, climate change impacts data collection in an otherwise completely unrelated arena...

        Words can sometimes, in moments of grace, attain the quality of deeds. --Elie Wiesel

        by a gilas girl on Fri Apr 06, 2012 at 06:32:07 AM PDT

        [ Parent ]

      •  He won't get it. Just as he might not... (21+ / 0-)

        ...have gotten a larger stimulus 37 months ago. But as many of us have been saying for those 37 months, better to try and not get it than not to try. People forgive a hard-fought loss; they aren't happy about yielding without a fight.

        Don't tell me what you believe, show me what you do and I will tell you what you believe.

        by Meteor Blades on Fri Apr 06, 2012 at 06:33:52 AM PDT

        [ Parent ]

        •  If he wants to be on the right side of the issue (6+ / 0-)

          He's going to have to do something to at least look like he's fighting for jobs.  An occasional economic-populist sounding speech is nothing but hot air when you run the executive branch.  And the excuse of powerlessness in the face of Republican intransigence in Congress will not go down well when you have a plutocrat on the other side claiming to know how to make the trains run on time, as it were.

          If employment news turns less rosy, it'll be put up or shut up time for the president.  Now that his mind seems focused on campaigning, we might even see something concrete come out of the White House.

          When Free Speech is outlawed, only outlaws will have Free Speech.

          by Dallasdoc on Fri Apr 06, 2012 at 06:36:56 AM PDT

          [ Parent ]

          •  Not sure why they're not sending over (2+ / 0-)
            Recommended by:
            Dallasdoc, Pescadero Bill

            stimulus legislation of some sort on a monthly basis.  They threaten to do it, but no follow-thru.

          •  If we get another month like this... (11+ / 0-)

            ...one, it's going to (unfairly) give the Republicans campaign fodder. That's not the chief reason those of us who have argued for more stimulus (both short-term and long-term) did so — the point has been that vast numbers of Americans are suffering. But it's also been obvious that a solid recovery would pay dividends at the polls. If Christina Romer had been listened to in January 2009 instead of having her views submerged by Larry Summers, we might be in better shape now.

            Don't tell me what you believe, show me what you do and I will tell you what you believe.

            by Meteor Blades on Fri Apr 06, 2012 at 06:55:21 AM PDT

            [ Parent ]

            •  You're preaching to the choir here (10+ / 0-)

              ... but I don't blame Larry Summers.  Obama decided who to listen to and who to discount:  ask Paul Volcker or Christina Romer.  If you hire Summers, you ought to know what you're going to get; same with Tim Geithner.  The buck stops in the Oval Office for those decisions, which haven't been significantly unwound to this day.

              I too wish a bigger stimulus had been pushed through, or at least a second one.  The president could be making a much bigger deal of the transportation bill the House can't get it together to pass, for that matter.  Or it'd be nice to see bills pushing the Buffett rule dedicate the income to increased jobs programs.  There's a lot of relatively micro stuff the president could do to make some difference, but pushing a more broadly stimulative fiscal policy is the big fish he seems determined not to cast for.  Deficit peacocks have already won that fight.

              When Free Speech is outlawed, only outlaws will have Free Speech.

              by Dallasdoc on Fri Apr 06, 2012 at 07:00:57 AM PDT

              [ Parent ]

        •  I really don't agree (5+ / 0-)

          the only thing that matters is performance.

          Excuses, the blame game, will not save a president in a sinking economy.

          They missed how bad it was going to get.  Had Summers not screwed up, they might have gotten more by accurately predicting when U3 would be in November of '10.  But that would have been a long shot.

          We are running a deficit to gdp ratio, the true measure of fiscal stimulus, larger than in any year that FDR was President until 1942.

          This is one month, and the trend is still good.  Consumer Sentiment has been improving, so hopefully this isn't a trend.

          The bitter truth of deep inequality has been disguised by an era of cheap imported goods and the anyone-can-make-it celebrity myth - Polly Toynbee

          by fladem on Fri Apr 06, 2012 at 06:55:38 AM PDT

          [ Parent ]

        •  Yes and no, imo. (2+ / 0-)
          Recommended by:
          askew, ZedMont

          Certainly amongst partisan activists with a very distinct ideological point of view, fighting the good fight is something we always want to see more of.

          On the other hand, too many hard-fought losses will cause anyone to be perceived as a loser, albeit a hard-fighting one.

          "[R]ather high-minded, if not a bit self-referential"--The Washington Post.

          by Geekesque on Fri Apr 06, 2012 at 06:59:09 AM PDT

          [ Parent ]

          •  Will fighting for voters make one a loser (4+ / 0-)

            ... or will not fighting for them be more likely to achieve that end?  Seems like the non-ideological partisans are always ready to break out the ticker tape and bunting whenever the president makes a vaguely populist sounding speech, so I think they know what good policy and good politics are.  They forget that actually following through with actions would make even better politics, and might even achieve some better policy.

            When Free Speech is outlawed, only outlaws will have Free Speech.

            by Dallasdoc on Fri Apr 06, 2012 at 07:03:11 AM PDT

            [ Parent ]

            •  I think the issue is diminishing returns. (4+ / 0-)
              Recommended by:
              Dallasdoc, auapplemac, Odysseus, cpresley

              If he's populist and confrontational 24/7, then populism becomes the baseline and won't move the needle on any particular issue--it just becomes noise.

              Also, unfortunate reality is that the squishy middle--the sad sacks who etch-a-sketch every election cycle--determine the outcome of Presidential races.  And they typically prefer smaller and less frequents servings of red meat.

              I think the bigger problem is his willingness to cut a deal and give something affirmative away.   I could understand the "it won't pass so don't waste capital on it" mentality.

              But, his handling of the debt ceiling was a complete debacle.  Offering to make the concessions he did was wrong on just about every level it could have been wrong on.

              "[R]ather high-minded, if not a bit self-referential"--The Washington Post.

              by Geekesque on Fri Apr 06, 2012 at 07:10:06 AM PDT

              [ Parent ]

              •  If only it were diminishing returns (5+ / 0-)

                With this president nobody's gotten tired of populist efforts.  It's more diminishing expectations of actual effort that could prove the issue for him.  

                Given the strong popularity of various populist economic policies, I wouldn't be afraid of the middle abandoning a populist campaign.  I suspect such a campaign might invigorate the middle, since most of the "middle" folks I talk to are cynical about the good intentions of any politicians.  It's hard to argue against that attitude, frankly.  Showing more good intentions would, I think, likely bring a lot more people to the president.  Folks inclined to listen to Republican arguments will usually wind up voting for them anyway.

                When Free Speech is outlawed, only outlaws will have Free Speech.

                by Dallasdoc on Fri Apr 06, 2012 at 07:19:18 AM PDT

                [ Parent ]

                •  I've met some of these people (4+ / 0-)
                  Recommended by:
                  auapplemac, ZedMont, cpresley, sunny skies

                  in the middle.  Maddening.  The types of people who recognize how nasty and uncooperative the Republicans have been, how they've been dealing in bad faith, and at the same time blame Obama for not doing enough to work with them.

                  I have difficulty placing myself in the shoes of someone who needs their support, since I can't bring myself to respect their opinion.

                  Congress has a 12% approval rating, but voters are still on track to keep the Republicans in power.

                  Idiots.

                  "[R]ather high-minded, if not a bit self-referential"--The Washington Post.

                  by Geekesque on Fri Apr 06, 2012 at 07:26:49 AM PDT

                  [ Parent ]

                  •  Most of them don't see that much difference (6+ / 0-)

                    ... between the parties.  From an average lunchpail Joe or Jill's point of view, they have a point.  Both parties pursue broadly neoliberal, free-trade economic policies, and increasingly both worship at the altar of supposedly-stimulative tax cuts.  Both set the banquet table for the plutocrats.  The fact that we jump up and down pointing out that Democrats will let a few crumbs fall off that table for the rest of us while Republicans don't is not persuasive to a lot of these people.  It's hard to blame them for not buying that argument.

                    The thing that would change their minds is a more committed economic populist party.  When Democrats pushed through the New Deal, they bought four decades of loyalty from working class voters.  Those voters don't see a party on their side in the Democrats anymore, and that's fundamentally the Democrats' fault.  It's not the voters fault for not buying what they're selling; it's the party leaders' fault for not offering a product voters want to buy.

                    When Free Speech is outlawed, only outlaws will have Free Speech.

                    by Dallasdoc on Fri Apr 06, 2012 at 07:33:16 AM PDT

                    [ Parent ]

                    •  The Democratic party's (5+ / 0-)

                      brand as the party for "the little guy" has gone by the wayside, to its detriment.

                      Fundamentally, though, the biggest problem is that this country is dangerously unenlightened.

                      "[R]ather high-minded, if not a bit self-referential"--The Washington Post.

                      by Geekesque on Fri Apr 06, 2012 at 07:41:19 AM PDT

                      [ Parent ]

                      •  Twas ever thus (4+ / 0-)
                        Recommended by:
                        Geekesque, auapplemac, cpresley, wsexson

                        Politicians have to be able to sell to the gullible, the stupid and the disengaged.  Otherwise they won't succeed.  It'd be nice if we had an engaged Athenian polity, but we never have and never will.  It's the world our politicians live in, and they still have to learn to sell their product.  Republicans are excellent salesmen with a seriously lousy product.  Why can't our side develop a better product to sell than the one we have?  That's the fundamental problem I see.

                        When Free Speech is outlawed, only outlaws will have Free Speech.

                        by Dallasdoc on Fri Apr 06, 2012 at 07:45:21 AM PDT

                        [ Parent ]

                        •  A lot of it is still race-based, I fear. (4+ / 0-)

                          A lot of lower middle class white people still fret more about a dime of their money going to some undeserving dark-skinned person than having their entire well-being diminished in order to serve the wealthy.

                          Any time Obama's race becomes an issue in any way, his numbers go south.  White people couldn't even tolerate him criticizing the arrest of a black man for trying to get into his own damn house.

                          "[R]ather high-minded, if not a bit self-referential"--The Washington Post.

                          by Geekesque on Fri Apr 06, 2012 at 07:55:31 AM PDT

                          [ Parent ]

                          •  Bill Maher quoted a cracker in Louisiana (2+ / 0-)
                            Recommended by:
                            Geekesque, Meteor Blades

                            ... on a recent show, remembering an encounter he'd had there years ago.  When asked why he voted for Republicans when they were only working for the rich folks, Maher remembered his response:

                            "Republicans work for the rich folks; Democrats work for the n***s.  Who works for me?"

                            That's a racist's cri du coeur.  The answer is for Democrats to work for him as well as other poor folks, and show him they mean it.  Self-interest can be stronger than racism, if it's successfully appealed to.

                            When Free Speech is outlawed, only outlaws will have Free Speech.

                            by Dallasdoc on Fri Apr 06, 2012 at 08:02:51 AM PDT

                            [ Parent ]

                          •  I wish I had your optimism that (0+ / 0-)

                            such people are open to being convinced.

                            In his view, if you're helping black people, you're hurting him.  

                            Demographics can solve that problem, but a lot of damage to be done in the mean time.

                            "[R]ather high-minded, if not a bit self-referential"--The Washington Post.

                            by Geekesque on Fri Apr 06, 2012 at 08:10:28 AM PDT

                            [ Parent ]

                          •  These people need an enemy to hate (2+ / 0-)
                            Recommended by:
                            Geekesque, mimi

                            In the absence of a better one, they'll fall back on traditional cultural racism.  But who better to offer them than Wall Street banksters?  Economic populism can be powerfully driven by class resentment, and it would be smart politics for Democrats to engender some.  If Republicans want to whine about "class warfare," let's give them something to whine about.

                            When Free Speech is outlawed, only outlaws will have Free Speech.

                            by Dallasdoc on Fri Apr 06, 2012 at 09:37:57 AM PDT

                            [ Parent ]

                          •  White identity--if they're down and depressed (1+ / 0-)
                            Recommended by:
                            Dallasdoc

                            "hey, at least we're white."

                            Part of the problem is that everyone expects to get rich.

                            "[R]ather high-minded, if not a bit self-referential"--The Washington Post.

                            by Geekesque on Fri Apr 06, 2012 at 10:47:49 AM PDT

                            [ Parent ]

          •  I agree about "too many" hard-fought... (9+ / 0-)

            ...losses. But we're talking about a key one in this case.

            At the time three years ago when those of us (in the minority) seeking larger stimulus were excoriated for having no political savvy about how things work in Washington, we were told that if a second stimulus were to be needed, that could happen later. A handful of us pointed out that Obama would only get one bite of that apple as his political capital waned (as happens to all presidents as their term of office ages).

            It doesn't really matter now. There will be no additional stimulus (short of what the Fed may do) until after November 2012. By then we'll see if this month's jobs report is just a fluke or the start of a new trend. If it IS a new trend, then an election that ought to be won by Obama given the incredibly lame opponent he will face will be, at best, up for grabs.

            Don't tell me what you believe, show me what you do and I will tell you what you believe.

            by Meteor Blades on Fri Apr 06, 2012 at 07:16:00 AM PDT

            [ Parent ]

            •  I'll agree with that, and add that making (6+ / 0-)

              the case for a much bigger stimulus earlier would have been the best possible way to help a second stimulus pass later. "See, I told you we needed to do more!"

              I think part of it was that they just failed to comprehend how much damage had been done.  Economists tend to look at comparables, which puts blinders on them when we're in uncharted territory.

              "[R]ather high-minded, if not a bit self-referential"--The Washington Post.

              by Geekesque on Fri Apr 06, 2012 at 07:21:48 AM PDT

              [ Parent ]

              •  True about economists. But the fact was... (6+ / 0-)

                ..that the administration economist who knew the most about deep downturns, Christina Romer, DID argue for more stimulus, $1.8 trillion. That approach never got to the president; what did was less than half that. Now, it's almost a certainty they would never have gotten that much and probably shouldn't have tried for it. But if they had shot for $1.3 trillion, they might have gotten, say, $1.1 T or $1.0 T. An improvement.

                But the real need, shoring up demand, could have been produced with a modernized WPA and CCC program of direct hiring. I've heard all the arguments against these. I don't buy them. Hardly matters. Nothing like this was proposed, not even by Romer.

                Don't tell me what you believe, show me what you do and I will tell you what you believe.

                by Meteor Blades on Fri Apr 06, 2012 at 09:49:04 AM PDT

                [ Parent ]

                •  Biggest problem of course was state (2+ / 0-)
                  Recommended by:
                  cpresley, Dallasdoc

                  level, where Republican governors and "balanced budget" provisions in state constitutions produced an undercurrent of austerity.

                  It will be interesting to see what the President considers his biggest mistakes when he writes his memoirs.

                  "[R]ather high-minded, if not a bit self-referential"--The Washington Post.

                  by Geekesque on Fri Apr 06, 2012 at 10:46:17 AM PDT

                  [ Parent ]

            •  Let's all hope....n/t (1+ / 0-)
              Recommended by:
              TomP

              “The object in life is not to be on the side of the majority, but to escape finding oneself in the ranks of the insane.” — Marcus Aurelius

              by LamontCranston on Fri Apr 06, 2012 at 07:22:13 AM PDT

              [ Parent ]

        •  This fight should have been on well over a yr ago (3+ / 0-)
          Recommended by:
          GreenSooner, cpresley, Dallasdoc

          Again, in the end, this election is about this ECONOMY.  The other stuff is part of it, but in the end, the ECONOMY.

        •  Hasn't the word "stimulus" become a poisonous (1+ / 0-)
          Recommended by:
          ZedMont

          word in the pubic's mind? Stimulus = Bailout?

          It's also can be painted as an admission of failure by the pundits and Republicans.

          Hoping the number is just a blip.

          Progressives will win only when we convince a majority that they, too, are Progressive. And... It’s the Supreme Court, stupid!

          by auapplemac on Fri Apr 06, 2012 at 08:18:28 AM PDT

          [ Parent ]

      •  Where (1+ / 0-)
        Recommended by:
        Supavash

        has Ben been? Oh, in his Stone Tower the Federal Reserve.

        Companies have be laying off at least 2 rounds a years since 2008. Any replacements are either temp or lower payed.

        Ben, the rich will be eaten.

      •  Bernanke tought high job growths were anomaly. (1+ / 0-)
        Recommended by:
        Dallasdoc

        Heard that too.  I took away that Bernanke thought the 200K job growth numbers were an anomaly based on the slow GDP growth and the current numbers and the disturbing trend of declining job growth numbers posted by Meteor Blades would seem to confirm that.

        But all we hear is the "race to the bottom" crap about Social Security and Medicare might cause a deficit in 20 years and how we have to cut both programs that are not responsible for any of current deficits or debt.

        Sure wish we had a Democratic president.

  •  disappointing (4+ / 0-)
    Recommended by:
    ItsSimpleSimon, guinea, GreenSooner, NYFM

    no two ways about it,

    The White House has to be worried this morning, though we are no where nearly close to a double dip.

    The bitter truth of deep inequality has been disguised by an era of cheap imported goods and the anyone-can-make-it celebrity myth - Polly Toynbee

    by fladem on Fri Apr 06, 2012 at 06:17:58 AM PDT

  •  Isn't 120k about the level needed just to keep (7+ / 0-)

    pace with the growing workforce?

    Non enim propter gloriam, diuicias aut honores pugnamus set propter libertatem solummodo quam Nemo bonus nisi simul cum vita amittit. -Declaration of Arbroath

    by Robobagpiper on Fri Apr 06, 2012 at 06:20:13 AM PDT

  •  People have been warning about early (2+ / 0-)
    Recommended by:
    guinea, NYFM

    construction starts inflating the numbers in January and February.  Was this a manifestation of that?

    "[R]ather high-minded, if not a bit self-referential"--The Washington Post.

    by Geekesque on Fri Apr 06, 2012 at 06:20:45 AM PDT

  •  HoHum. Unemployment rate down to 8.2 (3+ / 0-)
    Recommended by:
    TomFromNJ, LordMike, Pozzo

    Nothing to see here, but wait until shcool lets out for the summer and the unemployment rate JUMPS UP to 8.3

    Death and Gloom I tell Ya! Death and Gloom.

    Notice: This Comment © 2012 ROGNM

    by ROGNM on Fri Apr 06, 2012 at 06:22:17 AM PDT

  •  The unemployment rate fell .1%. (0+ / 0-)

    This is good news.

    Why does anyone believe what economists predict?

    They are just guessing!

    If you do not believe that there is an ongoing war on women, then you aren't paying attention. h/t The Pootie Potentate

    by glorificus on Fri Apr 06, 2012 at 06:22:42 AM PDT

  •  Just Imagine (2+ / 0-)
    Recommended by:
    EmmaPie, Supavash

    where the economy would be right now if Obama had just asked for a bigger stimulus like progressives were begging him to do. Or where health care would be if it had the public option instead of the mandate like progressives were begging him to do. Frustrating.

    •  Imagine, yes... (14+ / 0-)

      Because neither would be likely to get the votes of blue dogs in the House and Joe Lieberman, Collins, Snowe, etc. in the Senate so a strong imagination is needed.
      Just imagine where the economy would be right now if we didn't elect Ronald Reagan in 1980 and 1984. Just imagine where the economy would be if we didn't elect George W. Bush in 2000 and 2004. Just imagine...

    •  No Stimulus revisionism, please (5+ / 0-)
      Recommended by:
      thematt523, Satya1, askew, v2aggie2, Denver11

      Even if Obama had received a $1.2T stimulus, the largest practically considered, it would have made only a minor difference this far out.

      You might be looking at 8.0% employment instead of 8.2%.

      •  Not necessarily. The point of having a... (6+ / 0-)

        ...bigger stimulus is to kick-start the economy into sustained, vigorous growth. If you don't spend enough, then there is only a short-term or weaker boost, not enough to really get things going full steam, which then dwindles before the growth engine really revs up.

        Don't tell me what you believe, show me what you do and I will tell you what you believe.

        by Meteor Blades on Fri Apr 06, 2012 at 06:59:50 AM PDT

        [ Parent ]

        •  Sustained Vigorous Growth Doing What? (2+ / 0-)
          Recommended by:
          guinea, SoCalLiberal

          Nobody has answered this question.

          How does the U.S. economy create sustainable 'high paying' jobs for a critical mass of its own citizenry in jobs which creates new wealth or adds significant value?

          I still don't see where that comes from. What we are talking about here is creating 300,000 or 400,000 jobs a month for twelve or eighteen months at a whack.

          Doing what?

          I won't be coming home tonight, my generation will put it right - Genesis 9:3

          by superscalar on Fri Apr 06, 2012 at 07:23:28 AM PDT

          [ Parent ]

          •  The obvious answer would be solving big problems. (2+ / 0-)
            Recommended by:
            schnecke21, wsexson

            We need huge investment in Energy Independence.  We need significant investment in STEM education mentoring.  We need some investment in civil infrastructure, both repair of physical and adding new, like high speed rail and high speed internet.

            None of those things happened.  ARRA spent a hard minority of dollars on solving these problems.

            -7.75 -4.67

            "Freedom's just another word for nothing left to lose."

            There are no Christians in foxholes.

            by Odysseus on Fri Apr 06, 2012 at 10:19:03 AM PDT

            [ Parent ]

            •  To Do Most Of This (0+ / 0-)

              Requires that the government collect money from the citizenry in the form of taxes. To pay these taxes on an ongoing basis somebody has to be creating new wealth or adding significant value to an existing product or process.

              Extraction, home building, high value added manufacturing, this is what I am referring to when I ask 'Doing what?'.

              I won't be coming home tonight, my generation will put it right - Genesis 9:3

              by superscalar on Fri Apr 06, 2012 at 11:47:05 AM PDT

              [ Parent ]

              •  Borrowing is cheap. The government could have... (1+ / 0-)
                Recommended by:
                Odysseus

                ...invested in upgraded and new infrastructure creation on a massive scale, say of a level comparable to World War II, This would have created millions of jobs, boosted demand, helped people avoid foreclosures that have kept housing prices down and given us a leg-up in green energy and rebuilding of everything from our education system to or rail system.

                Don't tell me what you believe, show me what you do and I will tell you what you believe.

                by Meteor Blades on Fri Apr 06, 2012 at 08:47:53 PM PDT

                [ Parent ]

        •  Considering the rate of GDP contraction in '08... (0+ / 0-)

          ...compared to what it was believed to be by those in Washington, if I recall Paul Krugram correctly, in the end, none of the considered stimulus amounts were remotely adequate to initiate the Keynesian self-sustained stimulus cycle according to theory.

          I seem to recall Paul Krugam suggesting that the stimulus would have needed to be $2T - $3T. With a timulus of $1.2T, unemployment would be lower, but with the lag time from initiating construction projects, unemployment might be below 8% today, but not by much.

          •  Romer's proposed $1.8 trillion never got... (1+ / 0-)
            Recommended by:
            cpresley

            ...to the president's ears.

            Don't tell me what you believe, show me what you do and I will tell you what you believe.

            by Meteor Blades on Fri Apr 06, 2012 at 09:50:54 AM PDT

            [ Parent ]

            •  Yes, yes, I understand that. (0+ / 0-)

              And there were many reasons for that, including the fact that the Administration was oblivious to the real rate of GDP contraction.

              But even with $1.8T, which in a real world would have been whittled down to say $1.2T, you're still very far from that $2T to $3T band you needed to be in.

              In order to even be talking about what the stimulus could have accomplished, we need to be in that $2T to $3T range, which no one was discussing at the time.

              All this leads me to conclude that even with a bigger stimulus, the net effect today would be harldy any different.

              Instead of wondering what if Romer's $1.8T had gotten to Obama's desk, wonder about what would be if the Government had calculated a 9% GDP contraction.

      •  it's both (3+ / 0-)
        Recommended by:
        Odysseus, schnecke21, wsexson

        the size of the stimulus plus the composition.
        a large portion of it was in the form of tax cuts rather than actual spending.
         

        •  But there is a rate at which $ can be spent (0+ / 0-)

          Especially on construction.

          Construction projects have long lead times.

          The effect would have been to spread the larger stimulus out over more months. That's still good, but it would not have dramatically changed the picture today.

          •  well, (2+ / 0-)
            Recommended by:
            schnecke21, Meteor Blades

            but construction was not the only helpful thing to do with the money (although we still have trillions of dollars worth of infrastructure that we need to fix, so I don't even buy your premise).  

            just stopping the state and local layoffs would have been hugely helpful, for example. more science funding, help for student loans, hell, even better targeted tax cuts such as locking in the making work pay credit for longer or for more, would have been better.

            there are many, many, many different ways that the money in the stimulus could have been targeted better, in fact.

    •  I can imagine...it wouldn't have passed. nt (0+ / 0-)

      Today, strive to be the person you want to be.

      by GoGoGoEverton on Fri Apr 06, 2012 at 06:35:54 AM PDT

      [ Parent ]

    •  imagine if the stimulus has been used (1+ / 0-)
      Recommended by:
      Brooke In Seattle

      to build and repair infrastructure, rather than backfill state and local budget gaps.

      "By your late thirties the ground has begun to grow hard. It grows harder and harder until the day that it admits you.” Thomas McGuane, Nobody's Angel

      by Keith930 on Fri Apr 06, 2012 at 06:41:24 AM PDT

      [ Parent ]

    •  I can imagine many things... (0+ / 0-)

      ...but the likelihood of them actually happening is another matter.

      If Obama had "just asked for a bigger stimulus", what he might well have gotten is even less than he actually did manage to get.  In which case the economy would be in worse shape.

      As for health care, it wasn't a choice of public option or mandate, but rather a push to include both.  Unfortunately, the votes weren't there for the public option -- aside from the House blue dog issue, the cold fact is that the 60th vote to break a filibuster in the Senate was Lieberman.  If Obama had held out for the public option, what we'd have gotten is nothing.

      Political Compass: -6.75, -3.08

      by TexasTom on Fri Apr 06, 2012 at 08:52:51 AM PDT

      [ Parent ]

  •  Unemployment is at a three year low. (14+ / 0-)

    Despite Republican sabotage. Thank you President Obama.

  •  We're not out of this recession yet guys (7+ / 0-)

    We have major structural issues with the economy.  

    The only way to make a decent living in our country is through finance and health care, or if you're lucky enough to land a government job in a blue state.  That's not a robust economy.

  •  anyone seen a graph that compares (0+ / 0-)

    Job growth since the beginning of the recession to the number of jobs initially lost, and also compared to the number of people entering the job market?

    "By your late thirties the ground has begun to grow hard. It grows harder and harder until the day that it admits you.” Thomas McGuane, Nobody's Angel

    by Keith930 on Fri Apr 06, 2012 at 06:29:11 AM PDT

    •  No, but just yesterday I saw a stat (1+ / 0-)
      Recommended by:
      TexasTom

      I think originating on CNN that we have just about recovered all the jobs lost since Obama became president.  We're still out the four million or so lost during the last year of Bush...

      Give me your tired, your poor, Your huddled masses yearning to breathe free
      ¡Boycott Arizona!

      by litho on Fri Apr 06, 2012 at 06:57:54 AM PDT

      [ Parent ]

      •  Are (0+ / 0-)

        you saying we have come back 4 million jobs?

        Don't think so. think it is more like 2 million

        •  The president's fb claims it's 4 million jobs (0+ / 0-)
          The economy has added more than 4 million private-sector jobs since President Obama took office. Spread the word about this progress by sharing this chart with your friends.
          http://www.facebook.com/...

          And he includes this helpful chart, which I believe has been posted previously on dkos:

          Photobucket Pictures, Images and Photos

          Give me your tired, your poor, Your huddled masses yearning to breathe free
          ¡Boycott Arizona!

          by litho on Fri Apr 06, 2012 at 10:15:49 AM PDT

          [ Parent ]

          •  But the economy has also lost 650,000... (0+ / 0-)

            ...public sector jobs and failed to absorb the population increase. We thus have a 10 million job deficit since the recession began.

            Don't tell me what you believe, show me what you do and I will tell you what you believe.

            by Meteor Blades on Fri Apr 06, 2012 at 08:55:44 PM PDT

            [ Parent ]

      •  This (0+ / 0-)

        article dated Jan 24, 1012 says

        Since Obama took office in January 2009, when the economy was still shedding jobs en masse, there has been a net loss of 1.7 million jobs.
        Obama Web Ad Touts Jobs Record, Asks Supporters to ‘Spread the Word’
        •  Look where he started (0+ / 0-)

          For January- April 2009, there was a loss of 700,000 to 800,000 jobs PER MONTH - 3.1 million jobs lost in the first 4 months of 2009. My job was one of them.

          That's not a hole you did out of quickly, particularly when the other political party is doing everything in its power every day to make President Obama fail.

          •  I (3+ / 0-)
            Recommended by:
            bear83, wsexson, Meteor Blades

            lost my job too. And I haven't had a full time job with benefits since.

            Now, looking at the artcile I am just saying we are not down just 2 million jobs. Not even close.

            Obama should have stood his ground and demanded a direct hiring jobs program.

            He didn't. And we are paying the price.

            •  I agree that Obama should have (1+ / 0-)
              Recommended by:
              Crazy like a fox

              taken a firmer stand on the direct hiring and with a bigger stimulus. With solid GOP opposition, he only had one shot at a stimulus and it was too small.

              I don't know what the total number is for jobs lost/gained, but anybody can look at the chart in the OP and se we are still in the hole - still farther down than most prior recessions.

              •  Solid GOP opposition AND enough opposition in (0+ / 0-)

                his own party to scuttle anything bigger.

                And then there were the 2010 elections.  The Democrats were afraid of their own shadows before 2010, because the economy was so shaky and with their constituents back home clearly on the side of the Republicans, the blue dogs might as well have been Republicans as far as passing a larger stimulus goes.

                You can blame Obama for "not trying" but I am not convinced there wasn't trying behind the scenes.   Presidents don't like to lose votes, and they tend to twist arms to get a bill to pass.
                I would bet that any discussion about a larger stimulus didn't produce any arms to twist.

                Any discussion of additional stimulus now merely gets you an echo, and the echo says hahahahahahahahaha.

                If someone is to blame, it is the electorate for that damn 2010 debacle.

                What'd the devil give you for your soul, Tommy? He taught me to play this here guitar REAL good. Oh son, for that you traded your everlastin' soul? Well, I wuddn' usin' it.

                by ZedMont on Fri Apr 06, 2012 at 11:20:46 AM PDT

                [ Parent ]

  •  Below average (1+ / 0-)
    Recommended by:
    Brooke In Seattle

    I've long thought of myself that way, in multiple categories. You've just given me the data that confirms that, at least in terms of average hourly earnings.

    fragility does seem to be the key descriptor: well chosen.

    Words can sometimes, in moments of grace, attain the quality of deeds. --Elie Wiesel

    by a gilas girl on Fri Apr 06, 2012 at 06:29:34 AM PDT

  •  .. not a disappointment for the folks who are now (1+ / 0-)
    Recommended by:
    bear83

    employed.  Just need to keep chipping away, slowly but

    but surely.

    Everything that we see is a shadow cast by that which we do not see. Martin Luther King, Jr.

    by destiny1 on Fri Apr 06, 2012 at 06:30:12 AM PDT

  •  It was such lovely weather last month. (0+ / 0-)

    Who wants to work?

    But nobody's buying flowers from the flower lady.

    by Rich in PA on Fri Apr 06, 2012 at 06:32:17 AM PDT

  •  Life is going to suck under the Ryan budget (1+ / 0-)
    Recommended by:
    EmmaPie

    There's no way Obama can win with numbers like these.

  •  Good to see manufacturing job gains (4+ / 0-)
    Recommended by:
    this just in, TomP, SoCalLiberal, bear83

    leading the way!

    Today, strive to be the person you want to be.

    by GoGoGoEverton on Fri Apr 06, 2012 at 06:36:55 AM PDT

    •  37,000 more people ... (2+ / 0-)
      Recommended by:
      TomP, bear83

      ... finding that they're needed to help make real things that other people want:  indeed, good to see.

      My fingers are crossed for the continued health of the junior colleges that provide retraining for the more complex and rewarding manufacturing jobs that can still thrive in the U.S.A.

    •  Most of that is in the auto industry, (0+ / 0-)

      and that industry is enjoying an upswing at the moment, partly because bigger cars are being replaced by smaller ones. No telling how long that will last. The future price of gasoline I guess would be one factor.

      H'mm. I'm not terribly into this, anymore.

      by Knarfc on Fri Apr 06, 2012 at 09:58:26 PM PDT

      [ Parent ]

  •  Mark Zandi was just on MSNBC (9+ / 0-)

    and speculated that something was wrong with the retail job numbers since the loss of 34,000 jobs does not jibe with retail reports of increased  retail spending.

    You can't scare me, I'm sticking to the Union - Woody Guthrie

    by sewaneepat on Fri Apr 06, 2012 at 06:39:31 AM PDT

  •  Koch Bros, Cheney having success with gas prices (4+ / 0-)
    Recommended by:
    thematt523, PorridgeGun, bear83, Vicky

    They are raising gas prices thru the roof in order to slow the economy, hurt people so it can be blamed on the Obama Administration.

    Time to tap the Strategic Oil Reserve and takeover the refineries they are closing and flood the market with gasoline.

    •  They were a tad slow in jacking gas prices (1+ / 0-)
      Recommended by:
      Hockeyray

      when it became obvious that the economy would recover just fine at $3 a gallon.  Now they are sending it through the roof in a desperate attempt to stall the recovery and restore the meme of a bad economy that is going to doom Obama.  

      Sometimes I just hate conspiracies especially when they turn out to be true.

  •  Numbers Will Be Revised (13+ / 0-)

    For many months now, the number of jobs created has been getting upwardly revised the following month. It absolutely sucks politically, because Obama gets no credit for the gains after the media has already pillaged him the previous month.

    If you read Gallup's analysis, they state that they saw significant job gains in the latter half of the month (there daily unemployment rate went from 8.9% on March 15th to 8.3% by the end of the month. In case you didn't know, the BLS jobs report above is taken mid-month, so there is likely to be an upward revision.

    Of course, President Obama is going to get crushed in the media for the next few weeks. Already, the headline on a Yahoo article is something along the lines of "Does March Jobs report spell Doom for Obama?"  Ironically, last month, the media was lamenting how despite the 200,000+ jobs created, the unemployment rate was unchanged. This month, they will obviously ignore the latter and focus on the former.

    I admire the President for even seeking re-election for a thankless job with a disgraceful GOP Congress that has done nothing but try to sabotage his Presidency and a media that is shamefully incapable of actually reporting the truth, instead of perpetually worrying about balance.

    •  This time around, the number of jobs... (2+ / 0-)
      Recommended by:
      cpresley, wsexson

      ...created only got upwardly revised for February, not January.

      Don't tell me what you believe, show me what you do and I will tell you what you believe.

      by Meteor Blades on Fri Apr 06, 2012 at 07:05:45 AM PDT

      [ Parent ]

    •  Thanks for that (1+ / 0-)
      Recommended by:
      PorridgeGun

      The Gallop data has some really positive things to report.  The underemployment data they have is even better than the U6 improvement mentioned in this diary:

      Gallup's U.S. underemployment measure combines those unemployed with those working part time but looking for full-time work. As a result of sharp declines in both of these groups, the underemployment rate, on an unadjusted basis, fell to 18.0% in March from 19.1% in February 2012
      Lot's to read at Gallup, but I'm digging into these two snippets:
      Whether the relatively steep improvement in net hiring in March can be sustained in April is unclear, because Gallup weekly averages throughout March show hiring stronger in the first half of the month than in the second.
      http://www.gallup.com/...
      Gallup's seasonally adjusted unemployment rate was essentially unchanged at 8.5% in mid-March from 8.6% in February, but then fell to 8.1% for all of March. How much of the sharp decline in unemployment during the second half of March will be picked up in the government's mid-month reference week is unclear.
      http://www.gallup.com/...
      So it looks to me like the strong hiring early in March led to lower unemployment reported later in March, but since the spike in hiring didn't continue, we can't yet know what to expect in April.  

      Still these numbers are actually pretty good.  It's a disgrace how the corporate media craves drama so much more than basic numeracy

      I'm not liberal. I'm actually just anti-evil, OK? - Elon James White

      by Satya1 on Fri Apr 06, 2012 at 07:32:03 AM PDT

      [ Parent ]

  •  Looks like the 2011 cycle might repeat (1+ / 0-)
    Recommended by:
    guinea

    Deficit deals are contra-indicated.

  •  Could this tepid jobs report be a blessing (4+ / 0-)

    in disguise?  If Crescenzi's summation is correct, that the relatively weak jobs performance in March can convince the Fed to act, then maybe we can get the economy humming through the spring and into the summer.

    Krugman today argues forcefully (doesn't he always) that we need Fed action to push the economy into a self-sustaining recovery.  Signs of slippage now can give the Fed cover to do what needs to be done.

    Well, here's hoping anyway...

    Give me your tired, your poor, Your huddled masses yearning to breathe free
    ¡Boycott Arizona!

    by litho on Fri Apr 06, 2012 at 06:50:52 AM PDT

    •  The Fed needs a lot of slippage (1+ / 0-)
      Recommended by:
      Satya1

      As Krugman says, the Repugs are putting pressure on the Fed to do the opposite of what needs to be done.  Of course all the Fed has to do is start hinting that QE3 is right around the corner and the markets will start taking off.

    •  I think that is one of the best pieces (0+ / 0-)

      I've ever seen Krugman write.  He hits all the main points so well and it is a pleasure to read.  He fares better IMHO when he sticks to writing articles that are 90% about economics and a little less about politics.  His swipe at the Republicans was well aimed though too.

      I'm not liberal. I'm actually just anti-evil, OK? - Elon James White

      by Satya1 on Fri Apr 06, 2012 at 07:44:59 AM PDT

      [ Parent ]

  •  Jobless (4+ / 0-)
    Recommended by:
    hatdog, guinea, schnecke21, wsexson

    rate is dropping because people don't qualify for unemployment anymore and are taking low pay work to replace their former good jobs.

    I can name over fifty former colleges this applies to. Probably many more if I researched others.

    •  That is certainly part of the reason, (1+ / 0-)
      Recommended by:
      bear83

      but another part is that my cohort, baby boomers, are turning 65 and retiring now.

      You can't scare me, I'm sticking to the Union - Woody Guthrie

      by sewaneepat on Fri Apr 06, 2012 at 07:23:21 AM PDT

      [ Parent ]

      •  nope not the case at all (0+ / 0-)

        BLS is just fudging numbers, labor participation number to be more exact.

        Bad is never good until worse happens

        by dark daze on Fri Apr 06, 2012 at 08:42:21 AM PDT

        [ Parent ]

        •  According to (0+ / 0-)

          The Pew Research Center, 10,000 baby boomers a day are reaching the age of 65.

          Why do you not think many of them are retiring? Since you say that is "not the case at all," on what do you base your assertion?

          You can't scare me, I'm sticking to the Union - Woody Guthrie

          by sewaneepat on Fri Apr 06, 2012 at 09:09:53 AM PDT

          [ Parent ]

          •  this (0+ / 0-)

            Bad is never good until worse happens

            by dark daze on Fri Apr 06, 2012 at 08:44:52 PM PDT

            [ Parent ]

            •  Yes, that shows that the people (0+ / 0-)

              "not in the labor force" has gone up.

              Here is how the BLS defines "not in the labor force:"

              Persons who are neither employed nor unemployed are not in the labor force. This category includes retired persons, students, those taking care of children or other family members, and others who are neither working nor seeking work.
              http://www.bls.gov/...

              I am not in the labor force; I am retired.

              You can't scare me, I'm sticking to the Union - Woody Guthrie

              by sewaneepat on Sat Apr 07, 2012 at 04:20:46 AM PDT

              [ Parent ]

              •  yeah (0+ / 0-)

                so? good for you. Being able to afford to retire is becoming a much more are thing, being FORCED to retire is becoming the new norm.

                Again you miss my point. IN this economy, do you really think 88 million people have the luxury of not working because they simply dont feel like it?

                Bad is never good until worse happens

                by dark daze on Sat Apr 07, 2012 at 07:26:43 AM PDT

                [ Parent ]

                •  You can't just say something means something (0+ / 0-)

                  when it does not. if you want to make your point, look up the statistics for discouraged and marginally attached to the labor force. If you want to make a point about people not in the labor force and their numbers, look up what percentage they are now and historically.

                  I am sure many people are not working who would like to be, obviously, but you can't just use figures for something else to prove that. do your homework.

                  You can't scare me, I'm sticking to the Union - Woody Guthrie

                  by sewaneepat on Sat Apr 07, 2012 at 07:39:23 AM PDT

                  [ Parent ]

              •  FACT (0+ / 0-)

                you can simply manipulate the unemployment figure by simply upping the "not in labor force" number.  Guess what number is at historic high?  yeah you guessed it, not in labor force, imagine that.  its called COOKING THE BOOKS.

                Bad is never good until worse happens

                by dark daze on Sat Apr 07, 2012 at 07:28:57 AM PDT

                [ Parent ]

      •  Baby boomers cannot retire at age 65 and... (0+ / 0-)

        ...get full benefits.

        Don't tell me what you believe, show me what you do and I will tell you what you believe.

        by Meteor Blades on Fri Apr 06, 2012 at 09:07:06 PM PDT

        [ Parent ]

        •  You are correct. Thanks. (0+ / 0-)

          Those born in 1946 and 1947 get full benefits at age 66. There are 9100 turning 66 each day this year and next.
          http://www.gao.gov/...

          Since I started getting my benefits at 62, I forgot that the age for full benefits has changed. But still it is 9100 a day who become eligible for full benefits.

          You can't scare me, I'm sticking to the Union - Woody Guthrie

          by sewaneepat on Sat Apr 07, 2012 at 04:34:00 AM PDT

          [ Parent ]

  •  does (0+ / 0-)

    anyone have a take on what's really in that Jobs bill?

    Anything coming from Cantor has got to be a POS.

  •  Look on the bright side (3+ / 0-)
    Recommended by:
    FutureMan, askew, Supavash

    The public sector has stopped hemorrhaging jobs. By the summer, they actually may start adding jobs, helping instead of detracting from jobs reports.

    People panic too much on this site.

    by thematt523 on Fri Apr 06, 2012 at 07:15:11 AM PDT

  •  US Australia military base cost 10,000 jobs. (0+ / 0-)

    US teachers, police, engineers, construction workers are laid off but the US spends billion$ building a base for 2,500 Marines and 25,000 Halliburton support workers in the outback of Australia...ostensibly to "keep an eye on China".

    (Reuters) - About 200 U.S. Marines began a six month deployment in Australia on Wednesday, in the first wave of a buildup of 2,500 troops due eventually to rotate through a de facto base in Darwin, as the U.S. deepens its military presence in the Asia-Pacific.
    Toss in the 40,000 man base in Oman, where the US troops that were "withdrawn" from Iraq went.

    Obama priorities are so screwed up and we see the results, no US jobs but jobs for Australians building a base for US Marines in the middle of nowhere.

    Oh wait...Obama approved that great jobs creator the XL pipeline....how's that work'in out for ya?

  •  Better than a poke in the eye with a sharp stick (5+ / 0-)

    but that's not saying much. If the labor-force participation rate is still dropping, and wages aren't keeping up with inflation, then there is still something seriously wrong with the economy.

    “Take not from the mouth of labor the bread it has earned.” - President Thomas Jefferson

    by gjohnsit on Fri Apr 06, 2012 at 07:50:49 AM PDT

  •  That retail number doesn't make any sense. (4+ / 0-)
    Recommended by:
    PorridgeGun, destiny1, bear83, Vicky

    I think we're in for a big revision next month, because the data about the activity in the retail sectors suggests that hiring should have been, if not strong, at least there.

    Art is the handmaid of human good.

    by joe from Lowell on Fri Apr 06, 2012 at 07:52:49 AM PDT

  •  So we add 120,000 jobs and UE number drops ... (5+ / 0-)
    Recommended by:
    Pozzo, bear83, destiny1, Vicky, Theston

    And we're jumping off a cliff.

  •  Disappointing (1+ / 0-)
    Recommended by:
    guinea

    But not horrible. If we get one like this next month, however, look for QE3 in June.

  •  its all bullshit numbers anyway (0+ / 0-)

    does anyone really think that 88 MILLION working age americans cant be bothered or dont want to work? Well that is what the BLS  assumes.
    Its all bullshit.

    Bad is never good until worse happens

    by dark daze on Fri Apr 06, 2012 at 08:38:10 AM PDT

  •  Gas prices are finally (2+ / 0-)
    Recommended by:
    guinea, Knarfc

    Taking a bite out of the economy methinks. I was worried about it for last month's report and it didn't materialize.

    Visit my page, http://www.dailykos.com/user/kmoros

    by kmoros on Fri Apr 06, 2012 at 08:40:40 AM PDT

  •  I've been telling you (1+ / 0-)
    Recommended by:
    jeopardydd

    While you all are obsessed with stupid chit, as you pass through the snake.

    This administration blew it.

    No financial reform.
    No bankruptcy reform.
    No IRS reform.
    Acceleration of PNAC warfare agenda.
    Outrageous spending for homeland battlefield militarization.

    Ok so the insider trading congress millionaires just
    got a slap on the wrist, too late. All the financialization
    ponzie legislation has ate it's own tail.
    On the notes about retail, you just aren't going to get it.
    Federal reserve inflation is not adjusted out of the numbers for a reason. Reported apparel inflation 4.7%, food higher than that, last I new several weeks.
    Retail numbers are reported in quantity of dollars, not
    units of output.

    On the notes about QEIII. Maybe you like it because you think it wins elections. Quantitative counterfeiting buys the bonds with printed paper because there are no buyers of the bonds. Most importantly it leaves the foreign powers banking families owning YOU. When you default on interest payments, they own YOU.

    To borrow from another quote, sitimulating by feeding bankers is putting the feeding tube in the wrong end of
    a dying patient. This admins doesn't get it, it is owned by the banksters.

    And what if the Banksters are done with them and wants a new minion administration. They can make the
    economy do whatever they want to fix the election their
    way.

  •  GOP Cheering (0+ / 0-)

    Unfortunately for them, they don't get President Jeb Bush, Sarah Palin, President Huckabee or even President Santorum. They'll be stuck with President Romney.

  •  so I'm guessing... (0+ / 0-)

    this month we're switching back to "Obama's fault" after the past few months of "GOP governors be praised!"

    "It's almost as if we're watching Mitt Romney on Safari in his own country." -- Jonathan Capeheart

    by JackND on Fri Apr 06, 2012 at 08:56:47 AM PDT

  •  I think Krugman was right when he said that we (3+ / 0-)
    Recommended by:
    Odysseus, wsexson, Meteor Blades

    need a bit of inflationary policy. Right now, the inflation is about 2% and corporations and small and medium companies are still kind of shackled by the overhang of the debt that they accumulated during the crazy years, and which is keeping them from hiring (just look at productivity and hiring and you see a mismatch). A bit of inflation would devalue that debt and could trigger private sector hiring.

    What we certainly don't need now is controlling inflation (crazy right wing talk) and austerity policies as in the Ryan plan. If you want to see what austerity policies do look at Spain, Ireland, Italy, and France--unemployment rates that are 20% (for Spain and Ireland) and growth rates that are hovering around 0% for France and Italy.

    Don't give a damn a/t each & every politician currently alive in the US. Last time i voted for the top part of the ballot was 1972. Never missed SB elections

    by Mutual Assured Destruction on Fri Apr 06, 2012 at 09:10:45 AM PDT

  •  Oil Choke Collar. nt (1+ / 0-)
    Recommended by:
    Knarfc
  •  Some other, more positive, considerations ... (3+ / 0-)
    Recommended by:
    Vicky, Pozzo, Knarfc

    From MarketWatch:

    We can’t repeat it enough: Looking at one month of data in isolation is foolish. It’s the trend that matters, not one data point. Context is crucial.

    Here are a few reasons to think the March report, while stinky, wasn’t a total disaster:

    — The weather. Payrolls in December, January and February were boosted by unseasonably warm weather across much of the country. Fewer layoffs in January mean fewer people rehired in March.

    — Most industries are hiring. Of 266 different industries, 60% were adding jobs in March. There were large losses in just a few industries: General merchandise store jobs fell by 32,000, building construction jobs fell 11,000, and temp-help jobs dropped by 7,000.

    — Government hiring. After losing 265,000 jobs in 2011, layoffs in the public sector have slowed. In March, government employment fell by just 1,000 after a 7,000 gain in February.

    — The trends are still positive. Over the past three months, payrolls are up an average of 212,000. Despite a drop in March, employment growth as measured by the separate household survey is even stronger, at 415,00 per month over the past three months. And despite the drop in March, the labor force has grown by an average of 273,000 per month over the past three months.

    — The broadest measure of unemployment is down. The U6 unemployment rate, which includes all those who are actively looking for work as well as discouraged workers and those resigned to part-time jobs, fell to 14.5%, the lowest of Barack Obama’s presidency. Read the full report on the BLS website.

    The March jobs report was weak, no doubt, but we’re used to disappointing jobs reports by now. All in all, it wasn’t terrible.

    The trouble with the world is that the stupid are cocksure and the intelligent are full of doubt. Bertrand Russell

    by accumbens on Fri Apr 06, 2012 at 09:34:33 AM PDT

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