The US economy lost a bit of momentum in March, if you gauge it by job creation, falling well short of the needed 200,000-plus net new jobs that are needed just to keep up with population growth, and well below any level necessary to make a dent in the unemployment rate. According to the Department of Labor's Bureau of Labor …
Actually it's worse.
The number such as it is only looks semi-ok because more people dropped out of the work force. That's the magic of statistics. Don't like how it comes up, stop counting some of the unemployed and you magically have reduction in unemployment
Another problem is that many of the jobs that are created pay low wages. With high anti-union and anti-worker feeling in the US coupled with free trade agreements with low wage countries which encourages the US to export high paying jobs over seas, this problem will only get worse. Until wages rise, consumption will remain low and cause more unemployment.
Let The Banksters Fuck With Your Money
..and that's what you get.
"The good news is that governments at the local, state, and federal level have stopped slashing their payrolls, and collectively cut only 1,000 jobs in March."
Well, it's good they stopped slashing but not good they're not continuing to reduce staff. A lot of government staff are bureaucrats and having people in bureaucracy is bad.
"Manufacturers added 37,000 jobs"
", and those engaged in healthcare services added 26,000 jobs."
Hello? This is economics calling to tell you that a growing healthcare sector is not actually good news.
"Financial services firms added 15,000 workers"
Really? This report is really getting me too excited. Financial services move money around. More jobs in financial services means more money spent moving money around.
", and those running various professional and business services operations added 31,000 net new employees."
OK, this is actually good news.
"After defying gravity thanks in part of the warmer-than-usual weather in the States for the past several months, the retail trade looked down and shed 34,000 workers."
Welcome to the new world of retail. Your choice is IT, warehousing or driving.
As of Friday 6th April 2012 22:32 GMT, I agree with all of the above
Ironically, I remember when computers were to make us all redundant, and yet huge numbers of us are employed as servants to the machines.
While we were distracted by fears of cybernetic overlords, the banksters whisked our jobs away.
Same overlords as ever.
U.S. Gov has no clue
Reality is 6 months ahead of Gov. figures and the Gov can't even get their figures correct so how can they possibly have a clue where things are at the moment?
- Fee fie Firefox: Mozilla's lawyers probe Dell over browser install charge
- 20 Freescale staff on vanished Malaysia Airlines flight MH370
- Neil Young touts MP3 player that's no Piece of Crap
- Review Distro diaspora: Four flavours of Ubuntu unpacked
- Sysadmins and devs: Do these job descriptions make any sense?