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The Spectacle Blog
The U.S. economy added 162,000 jobs in March, the Bereau of Labor Statistics reported this morning, as the unemployment rate held steady at 9.7 percent.
Of those job gains, 48,000 were from Census workers who had been hired temporarily.
In addition, the numbers for the previous two months were revised to show improvement, with 14,000 jobs gained in January (earlier estimate was a loss of 26,000), and 14,000 lost in February (earlier estimate was a loss of 36,000).
There were 1 million discouraged workers in June, who have given up looking for work and thus are not included in the unemployment rate.
When combining those who have settled for part-time work, the broader unemployment rate crept up to 16.9 percent.
In a typical economy, this would be considered a weak report, but given how poor the labor market has been, the White House can still claim still progress relative to where we were.
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More Blog Posts by Philip Klein
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David | 4.2.10 @ 9:14AM
That's the "underemployment" rate that stands at 16.9%. It's also worth noting that the total increase in Fed Govt employment was 51,000 (48k at Census), and that state and local governments lost jobs.
The other sector showing significant growth was the services sector, especially in administrative and temporary services, with about 66,000 new jobs.
Add the 48k Census and the 66k temp staffing and you get 114k temporary jobs. Permanent private sector hiring was less than 50k.
Calling this "progress" is technically correct, but after $870 billion in stimulus spending, it's still very disappointing.
Liberal Reader| 4.2.10 @ 9:51AM
Given that at the end of the Bush presidency the economy was losing three quarters of a million jobs per month, yes I think Obama deserves a little bit of credit. Not much -- God knows we could be doing bettter -- but a little.
Oldefarte| 4.2.10 @ 11:39AM
Yes, he deserves credit-----for tripling the deficit and the debt [from his fraudent 'stimulus' that was actually WELFARE] and flushing $billions down the financial toilet in the process. By all means ['YES WE CAN'], give the SOB credit for STEALING the hard earned taxpayers' money and giving same to his indigent constituents [aka, WEALTH REDISTRIBUTION]. If Barney Frank, Cris Dodd and the other wealth redistributing Democrats had not begun to confiscate taxpayers' wallets beginning in 1977 with the CRA legislation [and forcing banks to make unprofitable loans to financially incompetitant borrowers for AFFORDABLE HOME loans], the current financial collapse would never have happened. Also, FYI, Bush and the Republicans tried unsuccessfully to rein in Fannie and Freddie's fraud but were unsuccessful, so get your facts straight, moron!!!!!!!!!!!!
ggoblue| 4.2.10 @ 4:16PM
they were unsuccessful because they were branded as 'racists'....sound familiar?
axbucxdu| 4.3.10 @ 10:35AM
Old one, surely you're old enough to remember it was Nixon, that idiot, who removed us from what remained of the gold standard: Bretton Woods.
Once the state was freed from any monetary discipline, a torrent of financial sewage followed. So you've got to have new, large markets to handle this sludge.
As a result, blasphemies like securitisation and CRA legislation were made inevitable.
Oldefarte| 4.4.10 @ 2:46PM
There is no direct connection between BW ["......The Bretton Woods system of monetary management established the rules for commercial and financial relations among the world's major industrial states in the mid 20th century. The Bretton Woods system was the first example of a fully negotiated monetary order intended to govern monetary relations among independent nation-states...."] and the the Democrats' imposition of the CRA of 1977, which forced domestic banks to provide loans/mortgages to indigent borrowers [and which eventually cause our present financial meltdown!!!!!!
axbucxdu| 4.4.10 @ 4:20PM
If a pol actually had to drain real money from the system for every pipe dream, you can be sure things like CRA would have a low priority. On the other hand, when the state is the only counterfeiter in town, all sorts of nonsense can be made real. Kapeesh?
JmsA| 4.2.10 @ 2:46PM
Yeah, and lest forget that the the bulk of the job losses during the Bush administration occurred in 2008, well after the democrats took over the congress in 2006. I suppose that's a somewhat inconvinient truth. By the way, the unemployment rate in the second quarter of 2007 was 4.7. I guess, by your admission: " Not much -- God knows we could be doing bettter -- but a little", the highly touted $870 billion stimulus, which would keep unemployment under 8%, has not worked out so well. Don't worry, we still have the debt, and the excuse to hike taxes. That should make you happy.
ggoblue| 4.2.10 @ 4:14PM
the unemployment rate when the democrats took over both houses of congress was 4.65%
bush's sin was going along with you kooks. it won't be replicated any time soon.
Heatpacker| 4.2.10 @ 9:55AM
Pardon my cynicism, but I don't believe the Labor Department anymore. The Dems vociferously claimed that Bush/Cheney pressured the CIA to produce the intel reports that they wanted to justify the Iraqi invasion. Some call it politics, I call it projection.
Given the unscrupulous, heavy-handed tactics that the Obamanoids used against their own Congressmen to get the necessary votes to pass the so-called Healthcare Bill, does anyone believe that Chicago-style pressure has not been brought to bear on the employees at Labor?
NOTHING is beneath these disciples of Alinsky.
Pete| 4.2.10 @ 10:55AM
http://news.yahoo.com/s/ap/201.....-container
Wait. Hold on. All is well. The Messiah has decreed that without the government takeover of healthcare, we would go bankrupt. Unreal. No lie is too big for these clowns. Insist upon the absurd over and over again and maybe the weak minded will let it sink in as truth. This is audacity for you.
Oldefarte| 4.3.10 @ 12:14PM
Pete, you're absolutely correct---I almost crapped in my pants when I read that moron's statement about his welfarecare preventing this country's bankruptcy. My God, I don't which is worse---this dictatorial maniac spewing his bullexcrement, or the brainwashed saps that believe the MSM's words in their local papers!!!!!!!!!!!!!!
Margie| 4.2.10 @ 3:44PM
Don't forget those IRS workers that will be hired~
http://hotair.com/archives/201.....rs-agents/
Pingback| 4.2.10 @ 5:44PM
Today Is The Day We Update Our Charts « Around The Sphere links to this page. Here’s an excerpt:
Pete | 4.2.10 @ 6:55PM
The thing that fries my spuds, Olde Fart, is that the same architects of disaster (Frank, Dodd, Clinton, Obama, Acorn et. al.) are not behind bars. To the contrary, many are still in power making the same dangerous policy decisions (loosening up Fanny and Freddie lending standards) that got us into this financial crisis in the first place. Nary a peep out of the MSM as to who we should hold responsible for this global-wide financial mess. I was absolutely floored to see Charlie Rose interviewing Larry Summers the other night, and learned that Summers, (who helped shut Brooksley Bourne up when she was trying to warn Congress about the dangers inherent in the largely unregulated trading of these disastrously dangerous financial instruments) is part of the Obama "team". Barney Frank wagging his limp-wristed finger at Wall Street. Incompetence rewarded time and time again.
Yosemeti Sam| 4.2.10 @ 11:50PM
Yo - the American ECONOMY is stagnant thanks to Democrapnomics.
Yet BHO avers that the birds are still chirping.
This birdbrain certainly knows how to 'spread' the
incoherent gobbledegook.
aware| 4.3.10 @ 11:04AM
The "facts" have been waterboarded.