New Jobs Numbers Send Mixed Message
The nation’s unemployment rate jumped to 9 percent in April, up from March’s 8.8 percent, according to the latest government figures. But the monthly payroll survey shows the economy added 244,000 jobs, the largest monthly gain in five years.
Economists say the more reliable economic health indicator is the payroll survey and today’s number is relatively good news, but still far from what’s needed to put Americans back to work at pre-recession levels. Says AFL-CIO President Richard Trumka:
The monthly job growth is welcome news, but the economic recovery and job market remain fragile.
He adds that proposed deep federal budget cuts and continuing job losses in state and local government:
could jeopardize prospects for sustained job growth, given ongoing weakness in the housing market, high levels of consumer debt, and weak income growth for the middle class.
Economy Adds 431,000 Jobs—Barely Enough to Stay in Place
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Some 431,000 net new jobs were created in May. A whopping 411,000 of those new jobs were temporary U.S. Census jobs, while private employers added only 41,000 new jobs in May. Overall, the unemployment rate dropped to 9.7 percent, down from 9.9 percent in April, according to a report released this morning by the U.S. Department of Labor.
AFL-CIO President Richard Trumka said the low number of private-sector jobs is further evidence the recovery is still fragile.
The Economic Recovery Act saved us from a second Great Depression, but it was not sufficient to power strong and sustained job growth, and its effects are expected to wane in coming months.
He called on Congress to do more to create jobs and sustain the recovery.
Most immediately, Congress must move quickly to restore health care benefits for the unemployed and provide aid to states to maintain jobs and vital services. We already see state and local governments shedding 22,000 jobs in May. Without further action to offset state budget shortfalls, these job losses will offset temporary gains from federal spending.
290,000 Jobs Created in April, Jobless Rate Worsens to 9.9 Percent
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Some 290,000 jobs were created in April, the fourth straight month in more than year the nation has seen gains in employment. Yet the unemployment rate worsened to 9.9 percent from 9.7 percent in March, according to data released this morning by the Department of Labor. The total unemployment figure, which includes those who are discouraged or underemployed, worsened to 17.1 percent in April, from 16.9 percent in March—some 27 million U.S. workers without jobs or full-time work.
Yet economists say the increase in the unemployment rate can be viewed as good news because it means that more than 800,000 workers entered the labor force, many of them formerly discouraged workers who had stopped looking for work.
April job growth came in manufacturing, 44,000 jobs; service jobs, 166,000; construction, 14,000 and mining, 7,000. The jobs increase also was bolstered by the federal government’s hiring of 66,000 temporary workers to help complete the U.S. Census. The April jobless rate for black workers is 16.5 percent, for Hispanic, 12.5 percent and worsened for white workers, to 9 percent.
162,000 New Jobs in March. But Without Aid, Long-Term Job Growth Stalled
The nation added some 162,000 jobs in March, the second month to see job growth since the recession began in 2007, according to data out today by the U.S. Bureau of Labor Statistics. The jobless rate remains unchanged from February at 9.7 percent, with 17 million U.S. workers jobless.
Temporary help services grew the most last month, adding 40,000 jobs in March. Manufacturing employment also increased, growing by 17,000 jobs, and totalling 45,000 jobs in the first three months of 2010. After losing an average of 72,000 jobs per month in the past 12 months, construction remained steady at 15,000 in March. African American and Latino workers continue to be hardest hit, with unemployment for blacks at 16.5 percent and Latinos at 12.6 percent.
Although the March report is a big improvement from the hundreds of thousands of jobs lost each month during 2009, job growth is effectively stalled and long-term unemployment is eating away at people’s pocketbooks and the nation’s economy. More than two in every five unemployed workers in this country have been unemployed for more than six months. And the situation is getting worse. The number of long-term unemployed (those jobless for 27 weeks and over) increased by 414,000 over the month to 6.5 million. In March, 44.1 percent of unemployed persons were jobless for 27 weeks or more.
When both unemployed and underemployed workers are counted, there are still some 26 million people without full-time work—a 16.9 percent underemployment rate.
539,000 Jobs Lost in April—Don’t Let Them Tell You This Is Good News
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Have you heard the one about the recession being over?
New data out today show 539,000 workers lost their jobs in April and the nation’s unemployment rate worsened to 8.9 percent, from 8.5 percent in March, according to the U.S. Labor Department. Jobs lost in April were spread across nearly all major private-sector industries. Jobs lost include 149,000 in manufacturing; 110,000 in the construction industry; 122,000 in professional and business services; and 47,000 in the services industry.
Even more worrisome, the number of long-term unemployed (those jobless for 27 weeks or more) worsened by 498,000 to 3.7 million over the month and has risen by 2.4 million since the start of the recession in December 2007.
The official unemployment rate is bad. But the real unemployment rate is far worse. If those who are underemployed or who want a job but have given up looking are counted, the U.S. unemployment rate stands at 15.8 percent—more than 25 million Americans.
So it looks like the pundits who claim this Bush-instigated recession and the jobless bleed it created is over, haven’t talked with the millions of unemployed U.S. workers.
