NYT/Reuters: Jobs growth surprisingly robust in April

[DeepModem Mom]

Jobs growth surprisingly robust in April
By REUTERS
Published: May 6, 2005
Filed at 9:13 a.m. ET


WASHINGTON (Reuters) - U.S. employers created a surprisingly large 274,000 new jobs in April and added more workers in each of the two prior months than first thought, the Labor Department said on Friday in a report that eased fears about economic growth.

The April jobs total far outstripped Wall Street economists' expectations for 170,000 new jobs.

Further underlining the surge, the government said 93,000 more jobs were created in February and March than it previously reported -- 146,000 in March instead of 110,000 and a whopping 300,000 in February instead of 243,000.

The unemployment rate, however, which is calculated from a separate survey, was unchanged at 5.2 percent in April.

The jobs data sent U.S. Treasury debt prices skidding lower on a conviction that a strong economy will keep the Federal Reserve pushing interest rates higher to curb inflation....


http://www.nytimes.com/reuters/business/business-economy.html

[HockeyMom]

1. 2 Part Time jobs created instead of 1 Full Time job

[whistle]

2. Tripping the light fantastic, while GM and Ford begin massive

...layoffs. The invisible hand at work.

[naderzenithnow]

3. 8:30am 05/06/05 U.S. APRIL MANUFACTURING PAYROLLS FALL 6,000

The gains were in the unsustainable leisure and hospitality sector as people get ready to roll off unemployment insurance and are forced into these types of jobs as well as construction which usually has a strong pick-up this time of year. Unfortunately there is nothing to cheer about in these numbers. More Americans continue to be moved into the most unsustainable unstable type of employment. Think about what happened to these jobs after 9-11. If either the dollar falls more precipitously or rates rise dramatically these types of jobs will become scarce very quickly. There is the real and very dangerous conundrum because I think one of the other of these scenarios must happen. We are being set up for a massive shock to our economy.

[katusha]

4. from another article on this

from yahoo
-----------------
WASHINGTON - Employers ramped up hiring in April, adding 274,000 jobs, enough to hold the nation's jobless rate steady at 5.2 percent. The latest figures offered a hopeful sign that the labor market is gaining traction and that any economic rough patch will be temporary.
------------------

how many times have we heard this before? seems as though the labor market has been gaining traction for four plus years now!!!

[ixion]

5. exactly... and that 'rough patch' a.k.a. RECESSION has been right there

with it.

But you'd never know that from these a** clowns who continually speaking of the 'surging' economy. :eyes:

[katusha]

6. it's like these guys are the anti-chicken little

instead of the sky is falling, they run around proclaiming that the sky is blue and clear even in the middle of a thunderstorm.

[Skidmore]

7. I firmly believe that corporations are

gaming the system to keep this business friendly administration afloat. I'll wager that our economy is a house of cards propped up by a shell game.

[tanyev]

8. JOB GROWTH EXPLODES

That was what greeted me when I logged on and pulled up my NetZero homepage. WTF? Exactly where are these so-called jobs?

http://www.usatoday.com/money/economy/employment/2005-05-06-april_x.htm?csp=24&RM_Exclude=Juno
Job growth explodes in April, up 274,000
...The unemployment rate, which is calculated from a separate survey, was unchanged at 5.2% in April.

Job gains were broad-based with manufacturing the only major sector to shed jobs. Construction employment snapped back after a soft March, adding 47,000 to payrolls for the strongest hiring since March 2004

[fasttense]

9. And who is getting these invisible jobs? Why invisible people are.

Just kidding, but this makes me wonder. "Construction employment snapped back after a soft March, adding 47,000 to payrolls for the strongest hiring since March 2004" Construction is notorious for hiring illegals. I wonder if these jobs went to undocumented workers?