Today's jobs report... getting better...

Per associated press....

NEW YORK — Stock futures are rising after the government's jobs report showed fewer jobs were cut in February than expected.

The Labor Department's monthly report is widely seen as the most important economic indicator because employment is considered a key ingredient for a strong, sustained recovery.

Employers cut 36,000 jobs in February, fewer than the 50,000 forecast by economists.

The unemployment rate stayed at 9.7 percent. Economists had predicted it would rise to 9.8 percent.

Dow Jones industrial average futures are up 68, or 0.7 percent, at 10,499. Standard & Poor's 500 index futures are up 9.00, or 0.8 percent, at 1,131.20, while Nasdaq 100 index futures are up 10.25, or 0.6 percent, at 1,870.00.

A hell of a lot better than half a million...

Let's all bow down and praise Obama!

All kidding aside, glad it went this way instead of the other...hopefully this economy is turning around one way or another!

The U6 alternative gauge of the unemployment rate, which includes discouraged workers and those forced to work part-time, rose to 16.8% from 16.5%.

http://www.marketwatch.com/story/payrolls-fall-36000-jobless-rate-steady-at-97-2010-03-05?reflink=MW_news_stmp

http://www.bls.gov/news.release/empsit.nr0.htm

This is getting better? Oh, I'm sorry...it's all the snow's fault.

White House says weather hit Feb jobless numbers

On March 5, 2010, Senator Harry Reid said, "Today is a big day in America. Only 36,000 people lost their jobs today, which is really good."
https://www.youtube.com/watch?v=LC211h9AY-4

I am not sure you can deny that 36,000 jobs isnt better that 536,000 jobs.

Throw me a bone, man...

I am not sure you can deny that the info is skewed to show the best of a bad situation.

Construction employment fell by 64,000 in February, about in line with the average monthly job loss over the prior 6 months. Job losses were concentrated in nonresidential building (-10,000) and among nonresidential specialty trade contractors (-35,000). Since December 2007, employment in construction has fallen by 1.9 million.

add to the fact, the release doesn't account for those who have fallen off the unemployment rolls. Why just the other day on CNN they featured a mech engr who has been out of work for 2 years and stated that this person only has had 2 offers since but they fell thru, not that I concure that that's indicative of everyone, but to paint this latest hoopla as something more than what it truly is is bull.

LTRT wrote:I am not sure you can deny that the info is skewed to show the best of a bad situation.

Construction employment fell by 64,000 in February, about in line with the average monthly job loss over the prior 6 months. Job losses were concentrated in nonresidential building (-10,000) and among nonresidential specialty trade contractors (-35,000). Since December 2007, employment in construction has fallen by 1.9 million.

add to the fact, the release doesn't account for those who have fallen off the unemployment rolls. Why just the other day on CNN they featured a mech engr who has been out of work for 2 years and stated that this person only has had 2 offers since but they fell thru, not that I concure that that's indicative of everyone, but to paint this latest hoopla as something more than what it truly is is bull.

I think you are taking it too seriously, I just said it was getting better, not that happy days are here again... Its getting better in that it isnt as bad as before, the vast left wing conspiracy to make things look better than they actually are is an aspect that's probabaly worth it's own topic.

Pez wrote:

LTRT wrote:I am not sure you can deny that the info is skewed to show the best of a bad situation.

Construction employment fell by 64,000 in February, about in line with the average monthly job loss over the prior 6 months. Job losses were concentrated in nonresidential building (-10,000) and among nonresidential specialty trade contractors (-35,000). Since December 2007, employment in construction has fallen by 1.9 million.

add to the fact, the release doesn't account for those who have fallen off the unemployment rolls. Why just the other day on CNN they featured a mech engr who has been out of work for 2 years and stated that this person only has had 2 offers since but they fell thru, not that I concure that that's indicative of everyone, but to paint this latest hoopla as something more than what it truly is is bull.

I think you are taking it too seriously, I just said it was getting better, not that happy days are here again... Its getting better in that it isnt as bad as before, the vast left wing conspiracy to make things look better than they actually are is an aspect that's probabaly worth it's own topic.

You have to remember all the crap we got when Bush economy was creating 50K or better employment numbers and had a better than 5% unemployment rate. According to the Dems then the economy was in the tank. So we get a little perturbed when the Dem politicians start touting these at good numbers.

I do think the economy is starting to hold its own now (i.e. fewer layoffs). I just don't see it increasing that much until late summer as I expect this quarters GDP to be more towards the normal GDP of 3% and remain that way through the rest of this FY.

My company has hired one full timer, and bringing back next week a laid off full timer directly due to the stimulus package. It's sad though because some of the roads that are getting resurfaced aren't the ones that need it. We did the same type of work last fall and it was really wierd seeing perfectly good roads being milled away and brand new surface applied when the next road over is in shambles. Only certain roads qualify for the stimulus package money so each community is taking what they can get. We also have two more full time seasonal, with the opportunity to become permanent, starting April 1. We would also bring in 2 or 3 more full time seasonal people if we could find anyone properly qualified, but we can't. So the ones here will be very busy with plenty of overtime throughout the summer. I guess we are helping the unemployment numbers.

i agree pez, it is proving to slowly improve..which is actually better for long term stability than giant leaps into where we were before the financial sky fell on october 2008.

and anyway..people are only unemployed because they want to be i read recently..so it isnt really the economy anyway, its kinda a form of boredom with then-employment maybe?