Today the Government supposedly had released (Feel good jobs data) just after last week showing that the economy was going back to the 2008 levels in other terms that the economy was heading towards a slowdown. But today that all changed. Don't buy into the Hype.
U.S. unemployment rate at lowest since 2008
U.S. economy creates 165,000 jobs in April
From MarketWatch.
The pace of U.S. hiring partly snapped back in April after a surprising dip in March, suggesting that job creation is holding steady despite a raft of signs pointing to a third straight midyear slowdown in the economy.“It’s a heck of a lot better than other economic indicators were suggesting,” said Jennifer Lee, senior economist at BMO Capital Markets.
The acceleration in hiring also nudged the unemployment rate down to 7.5% from 7.6% in March. That’s the lowest level since December 2008, the month before President Obama took office.As some people whom arent buying into the hype these government funded jobless data numbers don't count the people who already stopped looking for work since 08 as unemployed.The unemployment rate fell even though the size of the labor force increased, which is a good sign. People enter the labor force when they think there’s a better chance of finding work.
Here's another report from MarketWatch.
According to the report by MarketWatch even though the size of the labor force increased, the government said Friday. What's more, hiring in March and February were revised up by a combined 114,000. The increase in hiring in April beat Wall Street's forecast.
Notice how quickly the MSM pundits blamed the weather for the reason why construction shed 6,000 jobs? seriously now blaming the weather for and perhaps due to colder than normal weather in the month? thats rather quite ridicules.Meanwhile, the number of new jobs created in March was revised up to 138,000 from 88,000, the Labor Department said, while February's figure was revised up to 332,000 from 268,000. The number of jobs created in February was the highest since November 2005 for any month that did not include temporary Census bureau hiring. In April, professional services added 73,000 workers; bars and restaurants hired 38,000 people; and the retail business generated 29,000 jobs. Manufacturing employment was unchanged and construction shed 6,000 jobs, perhaps due to colder than normal weather in the month. Average hourly earnings rose 4 cents to $23.87
The picture says it all to them its all a huge laugh and an joke. Notice the hats? they already had them even before the DOW had hit 15000.
The dark side of the data.
Dark side to jobs report: Big drop in hours worked
But there was a dark side to the report: Total hours worked fell sharply, and the total amount of money earned by U.S. workers actually declined from the month before.The reality of the new unemployment rate and jobs data is that these supposed jobs that were included weren't high wages paying jobs they were low paying wages jobs. From retail stores to restaurants and farms.In other forums i am hearing how some members in there companies are actual hiring people but as usual i highly doubt such claims.For instance, some analysts applauded the 29,000 gain in retail-sector jobs in April as a sign that consumer spending is holding up well in the face of the fiscal drag caused by the tax hikes and government spending cuts.
New update.
US factory orders down 4 percent in March
Another example.
"The report Friday from the Labor Department was a reassuring sign that the U.S. job market is improving".
And now all of a sudden its good news by lowing paying jobs? something isn't right with this picture.Two days ago: "The Toronto stock market closed sharply lower amid indications of slowing growth in the Chinese and American economies."
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