Friday, April 2, 2010

Jobs report falls below expectations

The March 2010 unemployment numbers are out.The rate is unchanged at 9.7%.Now it's time to tweak the numbers to your political advantage.The report shows a gain of 162,000 non-farm payroll jobs.This is the number the left will promote.

Included in that are 48,000 census jobs.Temp help services added 40,000 jobs.Combined,that means 88,000 temp jobs leaving 74,000 real,full time jobs created.This does not keep up with the 100,000+ required each month for our expanding birth rate and immigration requirements.In other words,adding over 100,000 new full time private sector new jobs each and every month is the baseline for job growth.

The key numbers you won't see promoted so much are the alternative measures,mainly the U-6 underemployment number which ticked up to 16.9%.You also won't see the number that fall off the survey as it only includes the last 4 weeks.When you have exhausted your benefits and are no longer actively seeking work,you essentially don't exist anymore,at least in the world of the Bureau of Labor Statistics.

The numbers fell short of analysts projections for job growth,but there will be 2 revisions to come before the final numbers are out.Regardless,they are well below what they should be at this stage of a recovery and don't bode well to support the administrations efforts at job growth.More to come...

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