Friday, April 2, 2010

The Not So Good Employment Report


Here's the not so good Employment Report, see http://www.bls.gov/news.release/empsit.nr0.htm.

What jumps out at me? 1. The unemployment rate was unchanged at 9.7%. 2. The long term unemployed rose by a massive 414,000 in ONE MONTH/March. 3. The main areas where job growth occurred were in the government, due to Census hiring (48,000 temporary jobs), in the health care sector (27,000), and, in temporary help services (40,000 jobs). Of the +162,000 increase in nonfarm payrolls in March, over HALF were temporary (48,000 temporary Census jobs and 40,000 temporary help services jobs).

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