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Tag: Labor Department

  • US Adds 288,000 Jobs, Jobless Rate Lowest in Years

    The US economy seems to be on the rise this month as we come off of a very successful April, during which the US added an astounding 288,000 jobs and pushed the jobless rate to 6.3%. That is the lowest we have seen it since 2008, and the best monthly increase since January of 2012.

    Economists polled by Bloomberg before the Labor Department’s announcement Friday morning only called for a modest increase of 218,000 in jobs added, with the unemployment rate only falling by a mere 0.1 percent to a possible 6.6 percent. Thankfully, the economists were a little off this time.

    The labor department polls establishments to get the jobs added figures and polls households to get the jobless rate. After a sharp decline in the economy during the harsh winter months, this is good news for Americans who still seem discouraged over the economy.

    However, it’s not time to break out the party supplies quite yet. There was also a loss of 806,000 people in the work force to consider, as well as the continued stagnancy of average hourly earnings, which aren’t great for the economy.

    https://www.youtube.com/watch?v=MUq__qE7hvA

    As a rule, monthly jobless reports are simply a small sampling of the economy’s climate and not a complete picture. But, this news is welcome anytime, and on Friday the government increased its estimate of jobs added in February and March by 36,000, tempering last quarter’s bleak picture. There has also been an encouraging increase overall of the average monthly jobs added, which stands at 197,000.

    Of course, just as February and March numbers were increased from their original palor, the numbers for April are just as vulnerable and can be increased or decreased as the numbers become more clear in the coming weeks.

    Whether or not Americans feel the pressure lifting from this latest hike remains to be seen, but good news is always welcome.

    Image Via YouTube

  • Americans Tired Of Filling Out Unemployment Apps

    The United State Governments Labor Department continues to bombard us with propaganda about how our economy is getting better. Their latest report specifies that unemployment aid applications have dropped by 15,000 this week. This means only 358,000 application were filed, the lowest since 2008. That’s exciting!, you mean 15,000 people finally realized they were not going to get any help and gave up?

    I guess I shouldn’t be so pessimistic though, perhaps Walmart broke down and decided to open another register. Now the wait will only be ten minutes at the checkout and Larry will be bringing home over $21,000 this year after four years of college! It’s okay Uncle Sam, we understand you had to vote yourselves a raise while still doing a horrible job of making good decisions for your people.

    According to experts it is a good sign when applications stay consistently below 375,000. In fact, the economy added 243,000 jobs in January. This number is dwarfed though by the reported 13 million Americans that still don’t have jobs. Actually, the government only reports people as unemployed if they report that they are still actively looking for jobs. So you can bet that the number is much higher. Or maybe some people just neglected to renew their unemployment forms because they’re too busy trying to earn money elsewhere.

    I wonder also, how many people in this country are considered to be underemployed? I see a lot of qualified people working in mindless high-turnover positions.What are the proper stats on that at the Labor Department? So to clarify the main point, using the four-week adjusted average, for accuracy, the number of unemployment aid applications fell to 366,250 this week. Why even report this? Are they trying to make us feel better?