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By Timothy R. Homan - May 6, 2011
American employers in April added more jobs than forecast, indicating the world’s largest economy is weathering the impact of higher fuel prices.
Payrolls expanded by 244,000 last month, the biggest gain since May 2010, after a revised 221,000 increase the prior month, the Labor Department said today in Washington. The jobless rate climbed to 9 percent, the first increase since November, a separate survey of households showed. Employment was forecast to grow by 185,000 last month, according to the median estimate of economists surveyed by Bloomberg News.
what's your point?
That the economy is slowly getting better?
what's your point?
I thought it was suppose to be below 8% by now, wasn't that a campaign promise?
The unemployment rate doesn't tell the whole picture, when companies are hiring more, people are out looking for jobs and this will cause the rate to go up because of claims.Not a campaign prommise. The Magical Mystery Stimulus was supposed to keep it at no higher than 8%
That the economy is slowly getting better?
Not a campaign prommise. The Magical Mystery Stimulus was supposed to keep it at no higher than 8%
There has been so much talk in Washington and in the news about the national debt, terrorism, wars and healthcare that one might think these are the issues that most concern Americans in 2011. But opinion polls consistently show that none of these issues is as important to most Americans as the Big Issue: unemployment and the economy.
An unusually vivid example occurred on April 19, which McDonald’s declared National Hiring Day, encouraging people across the country to apply for a job.
The world’s biggest restaurant chain reported that it received one million applicants for open positions, which resulted in 62,000 people gaining employment. Another 900,000 plus were turned down.
Except that the unemployment rate went up again, even after excluding discouraged workers. It's not ALL a happy picture.
So what if the unemployment rate went up? The US unemployment rate in its present form means very little due to the way it is made. What is important is that private sector job creation is strong and getting better.
It was the third month in a row of at least 200,000 new jobs. The private sector has added jobs for 14 consecutive months. Even a slight rise in the unemployment rate to 9 percent appears to be a quirk.
The job growth was better than economists expected and perhaps the strongest sign yet that what they call a "virtuous cycle" has taken hold: When people spend more, corporate earnings rise, leading to more hiring and then more spending.
Businesses now hiring at fastest pace since 2006 - Yahoo! News
Are you trying to claim that Obama was expecting unemployment to increase during the election campaign? Is that the story we are to believe now? Is that actually what he ran on?
Jeez... I don't remember any of that.
Does anyone else?
I do recall he said the following:
“I am absolutely certain that generations from now, we will be able to look back and tell our children that this was the moment when we began to provide care for the sick and good jobs to the jobless; this was the moment when the rise of the oceans began to slow and our planet began to heal.”
Now when a guy can heal the planet and slow the rise of non rising oceans, I would think bringing the unemployment rate below 8%, that "good jobs for the jobless" would be a snap. BTW, did he mean hamburger flipper jobs when he meant good jobs?
McDonald's to hire 50,000 workers, starting April 19 - Apr. 4, 2011
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You're dodging the point. The point is that there was never any "promise" regarding the 8% number and that number didn't come from Obama.
Nobody ever made the claim that unemployment would level off immediately. The economy is way too big to turn on a dime like that.
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