Skip to comments.Job Growth Loses Steam (Unexpectedly Bad!)
Posted on 04/06/2012 5:54:00 AM PDT by TonyInOhio
WASHINGTONU.S. job growth slowed in March, and the labor force shrank, signaling that the economy could be losing momentum.
Jobs outside of agriculture grew by 120,000 last monthhalf the number that the economy added the prior monththe Labor Department said Friday, marking the first time since November that job growth fell below 200,000.
The unemployment rate, obtained by a separate survey of U.S. households, ticked down a tenth of a percentage point to 8.2%, but the drop resulted in part from fewer Americans seeking work.
Economists surveyed by Dow Jones Newswires expected a gain of 203,000 in payrolls and for the jobless rate to remain at 8.3% for March.
(Excerpt) Read more at online.wsj.com ...
And yet...the unemployment number goes down, which is the only news the MSM will report.
At this rate we will be below 5.8% unemployment by November!
In related news:
New foreclosure wave to hit ‘everyday’ borrowers
updated 4/4/2012 5:45:59 PM ET
Half a decade into the deepest U.S. housing crisis since the 1930s, many Americans are hoping the crisis is finally nearing its end.
House sales are picking up across most of the country, the plunge in prices is slowing and attempts by lenders to claim back properties from struggling borrowers dropped by more than a third in 2011, hitting a four-year low.
But a painful part two of the slump looks set to unfold: Many more U.S. homeowners face the prospect of losing their homes this year as banks pick up the pace of foreclosures.
“We are right back where we were two years ago. I would put money on 2012 being a bigger year for foreclosures than 2010,” said Mark Seifert, executive director of Empowering & Strengthening Ohio’s People (ESOP), a counseling group with 10 offices in Ohio.
“Last year was an anomaly, and not in a good way,” he said.
In 2011, the “robo-signing” scandal, in which foreclosure documents were signed without properly reviewing individual cases, prompted banks to hold back on new foreclosures pending a settlement.
Five major banks eventually struck that settlement with 49 U.S. states in February. Signs are growing the pace of foreclosures is picking up again, something housing experts predict will again weigh on home prices before any sustained recovery can occur.
“but the drop resulted in part from fewer Americans seeking work.”
Heck, by November there will be zero unemployment.
“And yet...the unemployment number goes down, which is the only news the MSM will report.”
I’m predicting -1.2%, in September, - because there will be more people working more than one job!
Obama wants another feeding at the trough of stimulus money.
At this point, the unemployment rate has absolutely nothing to do with labor. It has everything to do with politics.
The reality of the jobs numbers never get reported accurately.
NBC5 in DFW started the pro-obama propaganda this morning with the news that “ when the improved jobs report is released today, the president will share his efforts to help women”.
Really? Reports have been bouncing on the net about his low approval ratings among women for months. Now they start the lies about all he has done for the women. Always mention the wimin and chilren, they be hardest hit by dis prez.....
Bernanke said that the Fed would not provide any more stimulus unless the economy slowed.
Bernanke to the rescue next week. Start the printing press.
only when a democrat is president is the news that fewer people are working is good.. and will the unemployment numbers go down as employment slows.. I wonder when they will revise these numbers, next November 10th..
News Thursday that the U.S. Department of Labor revised upward its weekly initial jobless-claims number for the previous week didnt cause much of a huge stir on financial markets, but it represented the latest in an unusual string of adjustments to the closely followed data.
The Labor Department has now revised upward its first estimate of seasonally adjusted claims in 56 of the past 57 weeks, a Dow Jones analysis of claims reports found. Revisions to government data occur on a regular basis but it is uncommon for numbers to nearly always be restated in the same direction.
In other words, they lie each week to proclaim an improvement in initial jobless claims, and then correct the lie the following week, while the sheeple are grazing. Pathetic.
Borrowers that received modifications on their home loans 12-18 months ago are again delinquent. That begs the question: what do you do with those loans? Foreclose? Modify (again)? Cash for keys (turn them into renters)?
The can just gets kicked further down the road...
Other predictions, FWIW:
1. More and more seniors will turn to reverse mortgages when they realize they can't sell their homes due to a lack of qualified buyers.
2. The accumulation of student loan debt will strangle the single family industry. Who's going to be able to accumulate savings for a 20% downpayment when you're servicing a $100,000+ student loan? Add increased taxes to that, and you're looking at weak consumer spending to boot.
Now that's what I call a trend! LOL!
The only concern for the Gubmint - is that fewer workers and employers are making Social Security and Medicare contributions to the ‘so-called’ lock box fund.
Received this email - which should concern every citizen, student, worker and retiree.
SOCIAL SECURITY NOW CALLED ‘FEDERAL BENEFIT PAYMENT’/ENTITLEMENT!
Have you noticed, your Social Security check is now referred to as a “federal benefit payment”?
I’ll be part of the one percent, to forward this, our government gets away with way too much in all areas of our lives, while they live lavishly on their grossly overpaid incomes! KEEP passing THIS AROUND UNTIL EVERY ONE HAS READ IT.....
SOMETHING TO THINK ABOUT THE ONLY THING WRONG WITH THIS CALCULATION IS THEY FORGOT TO FIGURE IN THE PEOPLE WHO DIED BEFORE THEY COLLECTED THEIR SOCIAL SECURITY!!!! WHERE DID THAT MONEY GO?????????????
This was sent to me, I am forwarding it because it does touch a nerve in me.
This is another example of what Rick Perry called “TREASON in high places”!!! Get angry and pass this on!
Remember, not only did you contribute to Social Security but your employer did too. It totaled 15% of your income before taxes. If you averaged only $30K over your working life, that’s close to $220,500.
If you calculate the future value of $4,500 per year (yours & your employer’s contribution) at a simple 5% (less than what the government pays on the money that it borrows), after 49 years of working you’d have $892,919.98.
If you took out only 3% per year, you’d receive $26,787.60 per year and it would last better than 30 years (until you’re 95 if you retire at age 65) and that’s with no interest paid on that final amount on deposit! If you bought an annuity and it paid 4% per year, you’d have a lifetime income of $2,976.40 per month.
The folks in Washington have pulled off a bigger Ponzi scheme than Bernie Madhoff ever had.
Entitlement my butt, I paid cash for my social security insurance!!!! Just because they borrowed the money, doesn’t make my benefits some kind of charity or handout!!
Congressional benefits —— free healthcare, outrageous retirement packages, 67 paid holidays, three weeks paid vacation, unlimited paid sick days, now that’s welfare, and they have the nerve to call my social security retirement entitlements?
We’re “broke” and can’t help our own Seniors, Veterans, Orphans, Homeless.
In the last months we have provided aid to Haiti , Chile , and Turkey . And now Pakistan .......hideout of bin Laden. Literally, BILLIONS of DOLLARS!!!
Our retired seniors living on a ‘fixed income’ receive no aid nor do they get any breaks while our government and religious organizations pour Hundreds of Billions of $$$$$$’s and Tons of Food to Foreign Countries!
They call Social Security and Medicare an entitlement even though most of us have been paying for it all our working lives and now when its time for us to collect, the government is running out of money. Why did the government borrow from it in the first place? Imagine if the *GOVERNMENT* gave ‘US’ the same support they give to other countries.
Sad isn’t it?
It’s the weather!
Reuters: “The slowdown in employment growth last month likely reflected the fading boost from unseasonably warm winter weather.”
-—the economy could be losing momentum.-—
Lolz. I guess I missed the momentum.
-—but the drop resulted in part from fewer Americans seeking work.
Heck, by November there will be zero unemployment.-—
I knew Obama could do it! Ye of little faith.
Then how did the unemployment rate go down to 8.2% from 8.3%?!
Meanwhile, the unemployment rate fell to 8.2% as the labor force shrank by 164,000 workers, mostly due to white women leaving the job market.
The hardest hit industry was retail, which lost 33,800 jobs, mostly at department stores.
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