Businesses Add 308,000 Jobs in March

Friday, April 02, 2004



WASHINGTON - U.S. employment rose last month at the fastest pace in nearly
four years, easily outstripping expectations, as workers returned after a
grocery store strike and construction hiring bounced back on better weather,
a government report on Friday showed.

The latest report from the Labor Department offered comfort to President
George W. Bush (search) as the jobs market - a hot political issue in the
U.S. presidential campaign - finally made a decisive break to the upside.

Non-farm payrolls climbed 308,000 in March, the Labor Department said, the
biggest gain since April 2000 and well above the 103,000 rise expected on
Wall Street.

The unemployment rate ticked up to 5.7 percent from the two-year low of 5.6
percent seen in January and February.

Upward revisions to January and February payrolls helped contribute to the
positive tone of the report, which could fuel expectations that the Federal
Reserve may be closer to raising overnight interest rates from their current
1958 low of 1 percent than had been thought.

The March rise in payrolls reflected the resolution of a labor dispute at
grocery stores in southern California that had idled 72,000 workers. The
department said the return of those workers helped fuel a 47,000 increase in
retail employment last month, but it did not quantify the impact.

Economists had said the return of those workers would boost payrolls, but
that the impact was hard to gauge because it was unclear how many temporary
replacement workers were being let go.

The report showed job gains were widespread across industries.

While a long-hoped for rise in manufacturing employment did not appear, the
department said factory payrolls were unchanged in March, finally breaking a
string of 43 consecutive monthly declines.

The Labor Departmentreport released Friday showed widespread hiring in
industries across the economy at a time when President Bush re-election
campaign, counting heavily on a pickup in hiring, jumped into high gear.


For the first time in 44 months, the nation's factories did not shed jobs.
But they weren't hiring either. March's figures show zero gains and losses
for industries hammered by the economic downturn that began three years ago.
The only sector losing jobs last month was information services, where
companies cut about 1,000 jobs.


Revisions to payrolls showed a stronger jobs market than previously thought.
Companies added 205,000 jobs in January and February, instead of the 118,000
reported last month.

------------------------------------------------------------------------

January and February numbers revised upwards to 205,000.

That's 7 straight months of increases in the non-farm payroll employment
numbers...even if you're using the less-than-perfect Payroll Survey data
rather than the Household Survey data.

The economy has now added 513,000 jobs in the first quarter of 2004!

AND now for the REST of the story


"Companies add 308,000 jobs, but unemployment up"

http://www.salon.com/news/wire/2004/...bs2/index.html


NOYB wrote:
The Labor Departmentreport released Friday showed widespread hiring in
industries across the economy at a time when President Bush re-election
campaign, counting heavily on a pickup in hiring, jumped into high gear.


For the first time in 44 months, the nation's factories did not shed jobs.
But they weren't hiring either. March's figures show zero gains and losses
for industries hammered by the economic downturn that began three years ago.
The only sector losing jobs last month was information services, where
companies cut about 1,000 jobs.


Revisions to payrolls showed a stronger jobs market than previously thought.
Companies added 205,000 jobs in January and February, instead of the 118,000
reported last month.

------------------------------------------------------------------------

January and February numbers revised upwards to 205,000.

That's 7 straight months of increases in the non-farm payroll employment
numbers...even if you're using the less-than-perfect Payroll Survey data
rather than the Household Survey data.

The economy has now added 513,000 jobs in the first quarter of 2004!

"Jim" wrote in message
...
AND now for the REST of the story


"Companies add 308,000 jobs, but unemployment up"



Salon, eh? If you want the *REAL* story, go to the Bureau of Labor
Statistics site:
http://bls.gov/news.release/empsit.nr0.htm

Nonfarm payroll employment increased by 308,000 in March, and the
unemployment rate was about unchanged at 5.7 percent, the Bureau of Labor
Statistics of the U.S. Department of Labor reported today. Payroll job
growth
was fairly widespread, as construction employment rose sharply and several
major service-providing industries also added jobs.

Bush is behind about 3 1/2 years.

NOYB wrote:

Businesses Add 308,000 Jobs in March

Friday, April 02, 2004



WASHINGTON - U.S. employment rose last month at the fastest pace in nearly
four years, easily outstripping expectations, as workers returned after a
grocery store strike and construction hiring bounced back on better weather,
a government report on Friday showed.

The latest report from the Labor Department offered comfort to President
George W. Bush (search) as the jobs market - a hot political issue in the
U.S. presidential campaign - finally made a decisive break to the upside.

Non-farm payrolls climbed 308,000 in March, the Labor Department said, the
biggest gain since April 2000 and well above the 103,000 rise expected on
Wall Street.

The unemployment rate ticked up to 5.7 percent from the two-year low of 5.6
percent seen in January and February.

Upward revisions to January and February payrolls helped contribute to the
positive tone of the report, which could fuel expectations that the Federal
Reserve may be closer to raising overnight interest rates from their current
1958 low of 1 percent than had been thought.

The March rise in payrolls reflected the resolution of a labor dispute at
grocery stores in southern California that had idled 72,000 workers. The
department said the return of those workers helped fuel a 47,000 increase in
retail employment last month, but it did not quantify the impact.

Economists had said the return of those workers would boost payrolls, but
that the impact was hard to gauge because it was unclear how many temporary
replacement workers were being let go.

The report showed job gains were widespread across industries.

While a long-hoped for rise in manufacturing employment did not appear, the
department said factory payrolls were unchanged in March, finally breaking a
string of 43 consecutive monthly declines.

"Jim" wrote in message
link.net...
Bush is behind about 3 1/2 years.

NOYB wrote:

Businesses Add 308,000 Jobs in March

Friday, April 02, 2004



WASHINGTON - U.S. employment rose last month at the fastest pace in
nearly
four years, easily outstripping expectations, as workers returned after
a
grocery store strike and construction hiring bounced back on better
weather,
a government report on Friday showed.

The latest report from the Labor Department offered comfort to President
George W. Bush (search) as the jobs market - a hot political issue in
the
U.S. presidential campaign - finally made a decisive break to the
upside.

Non-farm payrolls climbed 308,000 in March, the Labor Department said,
the
biggest gain since April 2000 and well above the 103,000 rise expected
on
Wall Street.

The unemployment rate ticked up to 5.7 percent from the two-year low of
5.6
percent seen in January and February.

Upward revisions to January and February payrolls helped contribute to
the
positive tone of the report, which could fuel expectations that the
Federal
Reserve may be closer to raising overnight interest rates from their
current
1958 low of 1 percent than had been thought.

The March rise in payrolls reflected the resolution of a labor dispute
at
grocery stores in southern California that had idled 72,000 workers. The
department said the return of those workers helped fuel a 47,000
increase in
retail employment last month, but it did not quantify the impact.

Economists had said the return of those workers would boost payrolls,
but
that the impact was hard to gauge because it was unclear how many
temporary
replacement workers were being let go.

The report showed job gains were widespread across industries.

While a long-hoped for rise in manufacturing employment did not appear,
the
department said factory payrolls were unchanged in March, finally
breaking a
string of 43 consecutive monthly declines.





Maybe in your mind, but in the minds of most Americans he is ahead in the
polls. LOL!!

"Jim" wrote in message
link.net...
Bush is behind about 3 1/2 years.

A recession started just 60 days into his term. If you think that the
recession was the result of Bush's policies (that hadn't even been
implemented yet!), then you're either stupid or a liar.

Then, 9/11 came about. It's nothing short of miraculous that our economy
was able to rebound so strongly after what it'd gone through: 9/11,
corporate scandals, union pension fund scandals, insider trading, two wars,
etc.

NOYB wrote:
"Jim" wrote in message
link.net...

Bush is behind about 3 1/2 years.


A recession started just 60 days into his term. If you think that the
recession was the result of Bush's policies (that hadn't even been
implemented yet!), then you're either stupid or a liar.

Then, 9/11 came about. It's nothing short of miraculous that our economy
was able to rebound so strongly after what it'd gone through: 9/11,
corporate scandals, union pension fund scandals, insider trading, two wars,
etc.



As I recall, One of Bushes campaign promises was JOBS, and
the tax cuts were to provide them

"Jim" wrote in message
...


NOYB wrote:
"Jim" wrote in message
link.net...

Bush is behind about 3 1/2 years.


A recession started just 60 days into his term. If you think that the
recession was the result of Bush's policies (that hadn't even been
implemented yet!), then you're either stupid or a liar.

Then, 9/11 came about. It's nothing short of miraculous that our
economy
was able to rebound so strongly after what it'd gone through: 9/11,
corporate scandals, union pension fund scandals, insider trading, two
wars,
etc.



As I recall, One of Bushes campaign promises was JOBS, and
the tax cuts were to provide them

And they are! Jobs are a lagging indicator. The tax cut was passed, and
rates were reduced effective July 1, 2001...which means American's didn't
start seeing *some* of their returned money until after the April 2002
returns were submitted. Of course, the recession from 2001 and early 2002
hurt people's income and the job market. Therefore, the tax money refunded
in 2003 constitutes the bulk of the tax cut...which means Americans have
only had about 11 months to spend the tax cut refunded money. Since *every
single* economist will tell you there's a lag between a jump in GDP and a
jump in employment, it stands to reason that the past 7 months of increases
in employment figures is just following on the heels of 9 quarters of GDP
increases.

After 3 straight quarters of a *decreasing GDP*, the 4th quarter GDP in 2001
had increased...and GDP has been increasing for 9 consecutive quarters.
What happened in 2001 to stop the recession? The tax cut and interest rate
cuts by the Fed.

On Mon, 05 Apr 2004 16:07:09 GMT, "NOYB" wrote:


"Jim" wrote in message
...


NOYB wrote:
"Jim" wrote in message
link.net...

Bush is behind about 3 1/2 years.


A recession started just 60 days into his term. If you think that the
recession was the result of Bush's policies (that hadn't even been
implemented yet!), then you're either stupid or a liar.

Then, 9/11 came about. It's nothing short of miraculous that our
economy
was able to rebound so strongly after what it'd gone through: 9/11,
corporate scandals, union pension fund scandals, insider trading, two
wars,
etc.



As I recall, One of Bushes campaign promises was JOBS, and
the tax cuts were to provide them

And they are! Jobs are a lagging indicator. The tax cut was passed, and
rates were reduced effective July 1, 2001...which means American's didn't
start seeing *some* of their returned money until after the April 2002
returns were submitted. Of course, the recession from 2001 and early 2002
hurt people's income and the job market. Therefore, the tax money refunded
in 2003 constitutes the bulk of the tax cut...which means Americans have
only had about 11 months to spend the tax cut refunded money. Since *every
single* economist will tell you there's a lag between a jump in GDP and a
jump in employment, it stands to reason that the past 7 months of increases
in employment figures is just following on the heels of 9 quarters of GDP
increases.

After 3 straight quarters of a *decreasing GDP*, the 4th quarter GDP in 2001
had increased...and GDP has been increasing for 9 consecutive quarters.
What happened in 2001 to stop the recession? The tax cut and interest rate
cuts by the Fed.


Kerry is going to remove the tax cuts, penalize corporations that hire overseas
(I suppose he'll penalize foreign corporations that hire in the US), and
implement about $800,000,000,000 in new program giveaways, AND bring about
10,000,000 new jobs. And only the top 1% of taxpayers are going to pay for all
this.

You gotta like someone like that!

Now, given that there are lots of folks who *believe* that crap, do you think a
logical argument makes a bit of difference?

John H

On the 'Poco Loco' out of Deale, MD
on the beautiful Chesapeake Bay!