Aa
Aa
A
A
A
Close
Avatar universal

April Jobs report: Best gain in four years

".....There was a gain of 290,000 jobs in the month, up from a revised 230,000 jobs added in March. It was the largest number of jobs added to the labor force since March 2006. "

Addressing a sidebar/mood which states: Unemployment at 9.9%

"...The report also includes a separate survey of households that it uses to estimate the unemployment rate, which increased to 9.9%. Economists had forecast the rate would hold steady at 9.7%.

The rise in the unemployment rate is actually a sign of improving perception of labor market conditions. The increase was due to an uptick in job seekers who had previously been discouraged and dropped out of the job market. There was a jump of 805,000 workers returning to the labor force in April alone.

"When you think about the force it takes to get 800,000 beaten-down people off the couch and back on the street looking for work, that's pretty significant," said Lakshman Achuthan, managing director of Economic Cycle Research Institute...."

"Broad-based gains: The job picture got a lift from the addition of 66,000 jobs by the U.S. Census Bureau, which is in the process of completing the once-in-a-decade headcount of the U.S. population.

But the gains went far beyond that one-time Census boost, as private sector employers added 231,000 jobs. And the gains were broad based, as nearly two-thirds of industries across the private sector added jobs rather than cutting staff."

"Republican critics of the administration focused on the unemployment rate rather than gain in payrolls.

"Positive job growth is always welcome news, but this rising and painfully high unemployment rate is a far cry from President Obama's promise that the trillion-dollar 'stimulus' would keep joblessness from rising above 8%," said House Minority Leader John Boehner in a statement."

""I don't think this is the high water mark," said Jack Kleinhenz, economics professor, Case Western Reserve University. "But even with stronger gains ahead, we have a long way to go."

Achuthan said the upswing in both the overall economy and the labor market is particularly important for helping withstand external shocks, such as worries about the Greek government possibly defaulting on debt or large drops in the stock market, as were seen Thursday.

"The jobs report underscores this is a resilience of the recovery," he said. "When the business cycle is in an upswing, it starts to feed on itself, and the economy can withstand a pretty big shock without being tipped into a new downturn."

U.S. stocks started the day higher following the pre-market jobs report, but within the first hour of trading, fell into negative territory once again."

http://money.cnn.com/2010/05/07/news/economy/jobs_april/index.htm?cnn=yes&hpt=T3

Mike
21 Responses
Sort by: Helpful Oldest Newest
Avatar universal
I am cautious but optimistic.  I read somewhere that about 66,000 or so were from temporary census jobs.

Found the following while looking up info. on this growth:

Jobs Gained: Only 6,662,000 More Needed in 2010 to Fulfill Obama Promise
Unemployment rises to 9.9 percent, media highlight job creation.

By Julia A. Seymour
Business & Media Institute
5/7/2010 10:51:58 AM



The Bureau of Labor Statistics (BLS) released its monthly jobs report early May 7 announcing a rise in unemployment to 9.9 percent and an increase of 290,000 jobs.



Any positive job growth is good news to be sure. But in order for Obama to meet his pledge of 4 million jobs created by the end of 2010, the U.S. economy would have to add 932,000 jobs each and every month between now and the end of the year, taking into account both temporary jobs and the number of new positions needed to keep even with population growth. According to the BLS, 2,662,000 jobs have been lost since February 2009.



The Associated Press reacted immediately to the May 7 jobs announcement by emphasizing the good news in its subhead and lead sentence: “Jobs grow by most in 4 years.” They described people streaming “back into the market looking for work.”



AP waited until the eighth paragraph to mention that “all told, 15.3 million people were out of work in April.”



The New York Times also highlighted the “unexpected strong” job growth, but admitted “the job market still has a long way to go before it can be counted on to provide a base for a sustained economic recovery.” Both stories did mention that 66,000 jobs out of the total were temporary jobs related to the U.S. Census.



CNN’s Kyra Phillips attempted to explain the unemployment numbers May 7 saying more Americans are “optimistic” and began looking for work.



Neither AP, nor the Times mentioned Obama in its stories. Phillips only mentioned that Obama would be making a statement later in the day. None of them reminded their audience that the Obama administration promised to create 4.1 million jobs by the end of 2010, according to a Jan. 2009 AP story on MSNBC.com.



Economists often say that the U.S. needs to create 150,000 jobs per month just to break even. One study from the Federal Reserve Bank of Atlanta put the actual minimum slightly lower than 100,000 jobs per month. Using that calculation, and subtracting the temporary census workers hired in April, the rate of job creation falls considerably.



290,000 jobs added in April

-66,000 temporary Census workers

-100,000 minimum needed every month

________

124,000 additional jobs created in April



At that rate it would take just over 21 months just to gain back the 2,662,000 jobs lost under President Obama (Feb. 2009 through April 2010). To fulfill his promise of 4 million jobs created by the end of 2010, the U.S. economy would need to gain 932,750 jobs per month between now and the end of the year.



The Times quoted Peter Cardillo, who predicted “jobs growth in the vicinity of 150,000 to 175,000 per month going forward.” Cardillo, chief market economist for Avalon Partners said, “That means the unemployment rate is going to stay on high level ground for a while.” If Cardillo was correct, that sort of growth would barely keep up with rising population.



Under the Bush administration even good news about jobs was spun negatively by the mainstream media. But since Obama took office, many news stories have given him a pass on the employment issue despite his grandiose promises to create millions of jobs.



The Business & Media Institute found that network news reports were extremely negative during President Reagan’s administration, when unemployment was often at the same rate as it was in 2009 during Obama’s first year. The networks found “good” news for Obama; however, focusing stories on as few as 25 jobs “saved” by the stimulus package.

http://www.businessandmedia.org/articles/2010/20100507101149.aspx
Helpful - 0
Avatar universal
The official U.S. unemployment rate rose to 9.9 percent in April from 9.7 percent in March, but the economy added many more new jobs last month than had been expected.

The economy added 290,000 new jobs last month, the Labor Department's Bureau of Labor Statistics said moments ago. Forecasters expected 162,000 new jobs to be created.

This is a very strong monthly jobs report despite the tick up in the unemployment rate, which will draw all the headlines. Even the increase in the unemployment rate is a good sign. Why? Because it means that discouraged workers -- people who actually had given up looking for work -- are reentering the job market.

Some 800,000 workers reentered the job market last month. Many of them did not find jobs, so the unemployment rate increased from 9.7 to 9.9 percent. But they're looking for work again and that's a strong sign. The Labor Department counts you as unemployed only if you're jobless and looking for work. If you're jobless and not looking for work, it counts you as a "discouraged" worker and removes you from the labor market. That can sometimes cause an artificial tick down in the overall unemployment rate.

So today's takeaway: Don't focus on the increase of the rate from 9.7 to 9.9 percent. That's actually a good sign in this instance. Focus on the fact that the economy added 290,000 new jobs last month -- and more new jobs were added in February and March, according to revisions also released this morning.

The U.S. unemployment rate is down from the recent high of 10.1 percent in October. The rate is expected to remain near 10 percent for the remainder of this year.

Economists say that in order for substantial, sustainable job growth to occur, the weekly new jobless claims number needs to get down into the low 400,000s or upper 300,000s and stay there. Yesterday, the government reported that 444,000 Americans filed jobless claims last week, the third straight week of declines.

The big news today, of course, will be the stock market. We'll be watching to see whether it can recover at all from its big plunge yesterday. It may be aided by this better-than-expected jobs report.
Helpful - 0
Avatar universal
The article did not claim that all is right with the world. It did cite that these numbers are very good and it is encouraging and shows signs of recovery. Better than was expected is what I think they said. Now it doesnt mean everyone in your city/town is back to work. I am not sure what all the confusion is. Do ya think their lying and conspiring to deceive us?Or can you simply not be encouraged because you dont want to admit the signs are good! Or could it be quite possible that to admit that Obama just might be successful in his attempts and may not be out to destroy america is too much to bear?
Helpful - 0
377493 tn?1356502149
Our economy tends to be pretty tied to yours. Whatever is going on in the US, we tend to be right behind you.  In April we had 107,000 new jobs created.  Yes, I still know people who are unemployed right now (my husband is one of them), but he has had some interesting potential opportunities come up in the last few weeks.  I for one am very glad to see new opportunities being created.
Helpful - 0
1056589 tn?1273747102
In my neck of the woods there are certain areas that seem to be recovering and others that seem like boarded up ghost towns.....
Helpful - 0
Avatar universal
The economic numbers have been bad for quite a while. I cannot recall anyone questioning those bad numbers - suggesting that they were better than they appeared.  My area was hit hard long ago so our housing market didn't decline much, like it did in so many areas. I didn't think that, because my area housing didn't tank, the numbers I was seeing were wrong. I have a small business. I haven't laid anyone off but that didn't incline me to think the lay off numbers were overstated. The point is that the national indicators have improved but that certainly doesn't mean that everyone everywhere is going to see it of feel the impact of it. But, the better numbers get questioned  and I think it is because a sizable and vocal portion of the population don't like Obama and it is through that prism that they see everything.
I seriously doubt these job gain numbers were made up out of whole cloth. They reflect the big picture and I think they provide some reason for maybe just a tiny bit of optimism. So what do you want to see - worse job numbers? Would that make you feel better? I prefer to look on the brighter side.

Mike
Helpful - 0
657315 tn?1319491387
Hmmm, no "upturn" in the job rates in Barb's area, in Mike's area (he said so) in Margy's area, or in MY area.......

Who ELSE hasn't seen an "upturn"?
Helpful - 0
535822 tn?1443976780
Broader U6 Unemployment rate 17.1%  Wall Street Journal ...Unemployment .9.9% in April...good news indeed ...
Helpful - 0
649848 tn?1534633700
I said right off that I saw the numbers when I read the news this evening.  I know those are national averages, but you have to admit that when there seems to be no "upturn" in the area you live in, it's hard to believe the picture is as rosy as it's painted.

I will stand corrected on how I "could have said it", but my politics have nothing to do with it -- it's the people I deal with on a daily basis and national averages don't carry a lot of weight when people you know, don't have jobs and can't afford to feed their families.

Helpful - 0
Avatar universal
Well Barb, you can believe what you want to believe.
But, I told you the truth and if I was making fun of anyone it was surely not you. I have got a message from someone who knew exactly what I was saying and I am surprised that you don't.

You said: "As I see the closed businesses/warehouses, etc, I can't help think that the economy is not as good as some would like us to believe.  In fact, I don't even know if I will have my job beyond July 1, which is when our fiscal year starts.  My husband is more secure in his position than I am because he's been there for 17 yrs and is in management, where I've only been at my current job for 5 yrs and though I do a good share of the work, I'm only the "chief mushroom"..............

I interpreted that as you saying that because your area has not seen any recovery that it must not be happening - that the economy is "not as good as some would have us believe". Gee, who could that be who wants you to believe it is better than it is? And who is that wants you to believe it is worse than it is?  Why else would you post that? You could have said - well I see the numbers but my area is still bad. So is mine by the way. These are numbers Barb on a national scale. That's all it is. Do you dispute the numbers? Based on what - your area? I think you want to denigrate a positive sign because it doesn't align with your politics. And that's OK. Just admit it.

Mike
Helpful - 0
973741 tn?1342342773
Hey, I guess I am a crow . . . LOL?  I always felt I was more of a hummingbird sort or a cardinal . . . Anyway---------  I'll take good news wherever I can get it and I am so happy to see this.  

I will tell  you that my husband works for a large shipping company that deals with many business sectors.  He handles consumer goods primarily himself  but any type of cargo that is shipped via truck, air or water is his company's  specialty across all manufacuring.  Those who ship goods see improvements in the economy first as goods start moving.  Not moving yet folks.  But he has hope it will pick up soon.  The eb and flow says it should recover sometime in the not too distant future . . . I am really looking forward to that.  (by the way, my husband is the one that says his industry notices changes in the economy first so if that is wrong-------  he gets to be the crow!)

I sure hope that even if someone is not in love with Obama that they would be thrilled at signs of recovery!!!  
Helpful - 0
649848 tn?1534633700
First off, I don't believe you about not ridiculing me. I'm not" LOLing" and I don't think this is funny........

You are absolutely correct that I'm not the center of the universe; in fact I'm a long ways from it. Someone even told me one time that I was not even worthy of thinking/talking about; that's how insignificant I really am.  But that doesn't make me stupid or change what I see in my area on a daily basis.

I didn't say that "it's not happening" --- I simply said "it's not happening where *I* live", so, no, it doesn't necessarily mean the numbers are "wrong"; however, you know as well as I do that you can make anything look good on paper.  

So, next week as I go about my daily work, seeing and talking to people who don't have jobs, can't buy groceries, etc, I'll be sure to tell them that "There was a gain of 290,000 jobs in the month",  so they need to get out and start applying.  
Helpful - 0
Avatar universal
No, I wasn't.
But, honestly Barb you are not the center of the universe and just because you haven't seen it sure doesn't translate into "it's not happening".
You know better than that. I bet WVA hasn't seen a big impact yet either. Does that surprise you too? Does that mean the numbers are wrong?
Mike
Helpful - 0
649848 tn?1534633700
Are you ridiculing me, by any chance??  

You know I'm not an Obama fan, but I'd  love to see something positive in my area and if I thought Obama did something to make things better, I'd be the first to say so......

I'm sorry, I  just haven't seen it yet where I live.
Helpful - 0
Avatar universal
Don't you just love an LOL? Yes, you betcha!
Mike
Helpful - 0
377493 tn?1356502149
Lol Mike.  It is true though.  It's like this oil spill situation.  If he calls for regulation he will be called a socialist.  If he doesn't, he'll be accused of standing by and doing nothing.  And it will be the same people saying it either way.  It is sort of funny in a sad way.  In this situation with an increase in jobs I am sure some will find a way to make sure he gets no credit for it...after all, it couldn't be due to anything he has done now could it.  It's too bad.
Helpful - 0
Avatar universal
Those were the numbers. I'm sure if they supported the anti-Obama crowd they'd be crowing like the fools they are. But, since they appear to reflect positively on Obama they must be wrong. You guys kill me. You are really funny- lol lol lol lol hahahahahahahahaha.
Man that was funny lolololololololol see I can do that stuff too, And I am smart too which does distinguish me HAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHA
Mike
Helpful - 0
Avatar universal
I think they said the jobs were in areas of manufacturing, sales, healthcare field, nothing that one with a degree would be looking for. But it is a start. There were so many people displaced even before the recession started so it will take awhile, and I heard retail sales are up so those are all indicators of improvement. My job has been steady, until that spill gets here that is.
Helpful - 0
649848 tn?1534633700
I saw it too, yet, my job keeps me on the street/roads of my county every day and I see people on the street corners with their signs asking for work/help.  Of course, there are always panhandlers that have decided it's easier to sit on the corner with skinny Fido, so people will feel sorry for the dog and give $, but I'm seeing people on corners that I would  never expect to be "profitable". It's not a pretty sight.

Okay, I'll get to the point............lol      I live in area that got hit especially hard and there are large companies that have closed and no sign of reopening.  I know people who have been out of work for a year or more and there just aren't enough jobs opening up to be much help.  

As I see the closed businesses/warehouses, etc, I can't help think that the economy is not as good as some would like us to believe.  In fact, I don't even know if I will have my job beyond July 1, which is when our fiscal year starts.  My husband is more secure in his position than I am because he's been there for 17 yrs and is in management, where I've only been at my current job for 5 yrs and though I do a good share of the work, I'm only the "chief mushroom"..............

It's still unnerving here, no matter what the national statistics say. I doubt they checked in my county...................
Helpful - 0
377493 tn?1356502149
Saw this!!  Our countries economies are so closely linked and we are seeing improvements here as well now.  It is good to see people finding jobs again and nice to hear happy news!!!
Helpful - 0
Avatar universal
There are all kinds of positives happening since the economic crash, I also heard housing market is better since last 50 years? We are on our road back, barring the oil spill and the global economy! Have you noticed how we always hear the negatives and no one ever wants to talk about the positives.

Thankyou for posting this! :D
Helpful - 0
You must join this user group in order to participate in this discussion.

You are reading content posted in the Current Events . . . Group

Didn't find the answer you were looking for?
Ask a question
Popular Resources
A list of national and international resources and hotlines to help connect you to needed health and medical services.
Herpes sores blister, then burst, scab and heal.
Herpes spreads by oral, vaginal and anal sex.
STIs are the most common cause of genital sores.
Condoms are the most effective way to prevent HIV and STDs.
PrEP is used by people with high risk to prevent HIV infection.