Features

mburbank · #1

U.S. job growth soars
Gain of 308,000 jobs far better than Wall Street's forecasts; unemployment rate up to 5.7 percent.

By Mark Gongloff, CNN/Money senior writer

NEW YORK (CNN/Money) - U.S. payrolls grew at the fastest pace in nearly four years in March, the government said Friday, in a report that soared past Wall Street forecasts and could play a pivotal role in Fed policy and the presidential election.

Though economists cautioned that one month does not a trend make, it was possibly the best economic news since the onset of the last recession in 2001, and a sign of spring for the nation's labor market, which has been mired in its longest slump since 1939.

Payrolls outside the farm sector grew by 308,000 jobs in March, the Labor Department reported, compared with a revised gain of 46,000 in February. The unemployment rate, which is generated by a separate survey, rose to 5.7 from 5.6 percent.

Economists, on average, had expected 123,000 new jobs and unemployment at 5.6 percent, according to Briefing.com.

It was the strongest gain in payrolls since a matching gain of 308,000 in April 2000.

Thank God. I sincerely hope this is a trend. Too many people I know have been out of work for way too long.

The One and Only... · #2

Some of you may be wondering how the unemployment rate increased during this period of job growth.

This is probably due to more workers entering the labor force and looking for employment.

In case you were wondering.

punkgrrrlie10 · #3

Yeah they were all just waiting around and said "hmm, i'll work now"?

davinxtk · #4

NPR broadcast some BBC sound bytes this morning about our new jobs and how they're not really an improvement for March but more January and February finally catching up with us, and a fair bit about supermarket unions striking.

Royal Tenenbaum · #5

Quote:

Originally Posted by The One and Only...

Some of you may be wondering how the unemployment rate increased during this period of job growth.

This is probably due to more workers entering the labor force and looking for employment.

In case you were wondering.

Guess what? You're a fucking douche bag. Why don't you teach us how to add single digits next time too?

davinxtk · #6

Yeah, I would have attacked that beautiful gem of insight from OaO as well, had I not quickly realized that there are an abundance of complete morons who would have actually asked the question.

phnompehn · #7

Whats a 'unemployment rate'? Please tell me OAO!

davinxtk · #8

Today on the discovery channel, we watch as an unnecessary joke enters the coccoon of criticism and becomes a tired joke.

Shut the fuck up already.

ranxer · #9

are we counting iraqi's guarding our soldiers as a gain in jobs now?

ziggytrix · #10

Quote:

Originally Posted by davinxtk

Yeah, I would have attacked that beautiful gem of insight from OaO as well, had I not quickly realized that there are an abundance of complete morons who would have actually asked the question.

Yes, obviously, because anyone who doesn't have a thorough grasp of the principles of economics is most certainly a complete moron. What a fuckin prickish thing to say!

davinxtk · #11

A thorough grasp of the principles of economics?
Shut the fuck up, you're talking to a highschool drop-out here.

The One and Only... · #12

Well, I thought I should point it out. Remember, I am the most knowledgable person on these boards with regards to economics, and Burbank had to point out to me how the unemployment rate is calculated.

Royal Tenenbaum · #13

"I am the most knowledgable person on these boards with regards to economics"

But.. you aren't. :/

kellychaos · #14

Quote:

Originally Posted by The One and Only...

Some of you may be wondering how the unemployment rate increased during this period of job growth.

This is probably due to more workers entering the labor force and looking for employment.

In case you were wondering.

Or old coots who refuse to leave the jobs they have. I don't exactly remember a large baby boom ... say 18-20 years ago.

The One and Only... · #15

Quote:

Originally Posted by Royal Tenenbaum

But.. you aren't. :/

Who is?

AChimp · #16

It would probably be those of us who have graduated high school, don't worry about their penis size, and have some post-secondary commerce education.

Royal Tenenbaum · #17

or Arts education, etc. There's a ton of people that know more than that fucking idiot OAO.

da blob · #18

I don't care all that much about a job.
Money would be enough.

The One and Only... · #19

Yeah, right. From what I've seen on these boards, highschool economic courses only teach the bare basics. I'm betting that they don't even teach the law of comparative advantage in them.