Job Growth Loses Steam (Unexpectedly Bad!)

The Wall Street Journal ^ | 04/06/12 | Josh Mitchell etal

[TonyInOhio]

WASHINGTON—U.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 month—half the number that the economy added the prior month—the 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.

[tobyhill]

You can’t say BLS without the BS.

[GonzoGOP]

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.

Watch for a slowly increasing rate of foreclosures and short sales. The two years of unemployment have run out and there are a lot of people who are now taking jobs at a fraction of what they used to make.

I know several people who have held onto the house so far, but are planning to sell as soon as the market picks up even a little. The lower base income, no prospect of raises, and the high cost of commuting has made some of the collar counties less attractive than they once were. It won't be a crash like 2008, but every time it ticks up more sellers are going to come into the market and drive the prices back down again.

[fhayek]

There is a rotation. One month its weather. Another month, Europe. Another month, earthquakes in Japan. And of course, there is the ever-reliable, Bush’s fault. Of course, it cannot be the brain-dead economic policies of one Barack H. Obama.

[fhayek]

And of course, sometimes it is due to too much bad weather, and sometimes it is due to too much good weather. Funny how we never had weather before Barack Obama became president.

[GoldwaterChick]

Stuart Varney on Fox Business News just reporting that 2/3 of the jobs went to the 55 and over age group! One of his guests said the reason is that the savings of so many have been so depleted it is necessary for them to continue working. But the MSM won’t be reporting that fact.

[Lazamataz]

Unexpectedly, I unexpectedly unexpected this unexpected article to unexpectedly unexpect unexpected facts unexpectedly. Unexpecting the fervently unexpectations of true unexepectedness, and unexpected cermoniously unexpectations all unexpected unexpectedly, unexpecting before the unexpected public of unexpected unexpectations in an unexpected way.

[popdonnelly]

The good news is that they juggled the numbers so that the jobless rate went down.

[popdonnelly]

So economists expected more new jobs and the jobless rate to stay at 8.3%. Instead, we got half as many new jobs and the jobless rate went down!

Figures don’t lie, but liars can figure.

[popdonnelly]

The Soviet Union used to report 100% employment. If you include the labor camps, I guess that was true.

[Crucial]

It won’t matter if the unemployment figures drop. If Americans arent’ working, they aren’t voting for Obama. The unemployment rate won’t matter much to those with jobs. They have other things to worry about, like the skyrocketing cost of living under this president.

[bigredkitty1]

Was listening to a radio host Ben Ferguson, subbing for local DFW host Mark Davis today. He stated there are almost 88 MILLION Americans out of work. This number will never be reported by the lame stream media, even the local media affiliates.

Can someone explain to me how in the h*ll these numbers of unemployed Americans are simply ignored by the media? Just because the idiot Kenyan squatting in the White House orders the unemployment numbers cooked doesn’t mean these people have vanished.

[corlorde]

Bookmark.

[Jake8898]

But 2 weeks ago the 1st time jobless claims were a record low 348,000. Then the next week it was another 4 year low as it dropped 3,000 from the week before to 359,000. Yep, apparently 359k is 3,000 less than 348k in obamaland! Just yesterday it was another 4 year low of 357k.

I must be growing senile but these numbers are screwy. The BLS wouldn’t put out propaganda, would it?

[dead]

Obama can fix it!!

[Sequoyah101]

And of course not telling the whole truth is not the same as lying. The MSM is expert at this. So is oblabla.

[RedhairRedhair]

[Red Badger]

Heck, by November I hope Zero is unemployed!..............

[LibsRJerks]

Gosh, I guess no one would want to discuss our unexpected $4.15 gas prices now, would we, and how that might factor into all of this.

Or that tax time is coming, with many of us living in abject fear over what THAT bill is going to look like.

I am now relegated to clearance racks only. I’m buying more tuna that I ever have before. We have a house, food, utilities and bills all paid,but there’s just not much more after that. We eat out less and less. I shop now, maybe once every six months. That’s it. I have cut, and cut, and cut.

Wake up, American. You’re taxing us to DEATH. We have nothing left to spend after taking care of basic needs.

[NoRedTape]

Hey......the temp job numbers from Christmas must be trickling in along with the temp ‘green job’ numbers?

[RedhairRedhair]

But you are seasonably adjusted right?