U.S. Economy Adds 308,000 New Jobs

[Yoda]

Companies Add Jobs, but Unemployment Up (http://story.news.yahoo.com/news?tmpl=story&ncid=&e=3&u=/ap/20040402/ap_on_bi_go_ec_fi/economy)
By LEIGH STROPE, AP Labor Writer

WASHINGTON - The nation's employers added 308,000 new jobs in March, hiring at the fastest pace in four years and providing long-awaited evidence the weak jobs market may be gaining steam.

At the same time, the civilian unemployment rate bumped up to 5.7 percent, the Labor Department (news (http://us.rd.yahoo.com/DailyNews/manual/*http://search.news.yahoo.com/search/news?p=%22Labor%20Department%22&c=&n=20&yn=c&c=news&cs=nw) - web sites (http://us.rd.yahoo.com/DailyNews/manual/*http://search.yahoo.com/bin/search?cs=nw&p=Labor%20Department)) reported Friday.

In a separate survey of companies, the figures showed widespread hiring in industries across the economy at a time when President Bush (news (http://us.rd.yahoo.com/DailyNews/manual/*http://search.news.yahoo.com/search/news?p=%22President%20Bush%22&c=&n=20&yn=c&c=news&cs=nw) - web sites (http://us.rd.yahoo.com/DailyNews/manual/*http://search.yahoo.com/search/search?p=George+W.+Bush))'s re-election campaign, counting heavily on a pickup in the jobs market, 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 manufacturers 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.

"I'm not saying the labor markets are back where they need to be, but this latest job advance together with the positive revisions are making this look like a normal recovery," said economist Ken Mayland, president of ClearView Economics.

The jobless rate, compiled in a separate survey of households, inched up by 0.1 percentage point from 5.6 percent in February. That's because more job seekers renewed their searches last month, but were unsuccessful.

The health of the nation's economy, especially the job climate, is a major issue in this year's presidential race. The economy has lost almost 2 million jobs since Bush took office in January 2001.

President Bush is promoting his message of an improving economy Friday in West Virginia, a state he narrowly won in 2000 and where Democrats are taking him to task for lost jobs.

Friday's report "is more evidence the economy has turned the corner and the nation's job market is getting stronger every month," said Labor Secretary Elaine Chao.

But for out-of-work Americans, the economic rebound has been frustratingly slow. In March, there were 8.35 million people unemployed, compared with 8.17 million the previous month. The average duration of unemployment has been more than 20 weeks, a 20-year high.

"The president and administration officials are expressing pride in the fact that the economy has finally started to create some jobs, but on the third anniversary of the Bush jobs slump, we are still in a deep hole," said Rep. Pete Stark, D-Calif., top Democrat on the Joint Economic Committee. "We can't really talk about a jobs recovery until we see robust job creation for several months."

Jobless workers are increasingly accepting part-time work. The number of people who worked part time for economic reasons rose to 4.7 million in March, up from 4.4 million the previous month.

Construction employment rose by 71,000 in March following a decline the previous month. The industry has added 201,000 jobs in the past year.

Retailers added 47,000 jobs last month, led by the striking California grocery workers agreeing to a new contract and returning to work.

Employment in health care and social services increased by 36,000 in March, with the industry gaining 255,000 jobs in the past year. Professional and business services added 42,000 jobs, and in the leisure and hospitality sector, payrolls rose by 27,000.

Transportation and warehousing, utilities and government also added jobs last month.I've said it before, and I'll keep on saying it: anyone who wants to go after Bush won't be able to do it on economic grounds.

[Golgot]

I've said it before, and I'll keep on saying it: anyone who wants to go after Bush won't be able to do it on economic grounds.


Mmm. Surprisingly good. Best for four years. (or so the BBC tells me :)). Let's hope the rises continue (otherwise you'll look silly ;))

But considering Kerry's basing a large swathe of his current attack on the job-outsourcing issue - Bush looks fairly safe....for now ;)

But imagining the good sides of economic recovery continue, there's still an issue of Bush's approach to international economics. If failings in that area impact negatively on the domestic situation, his general approach becomes questionable (and you know that on those grounds, above all others, i question...:))

Ain't the future fun ;)

[7thson]

I debated this issue in the past during the Clinton years with many of my coworkers. They argued that Clinton created many jobs. I am not one to "Clinton Bash" as I voted for him, but I will state in my opinion that the jobs that were created during his term in office were, for the most part, crappy dead end jobs. Yes there are exeptions, but tech jobs were lost in abundance, while minimum wage jobs seemed to rise in abundance. I think that alot of the recently created jobs have a strong backbone and are here to last. The tecnological market is ripe for movement, and I see it growing with a stronger foundation than it has ever had. The unemployment rate is very subjective, I mean if you are working and still qualify for food stamps or welfare then I do not think it should even be considered in the unemployment stats. One side note: Most E1's to E4's in the military that have families qualify for welfare benefits, comeon lets pay our men and women in uniform at least enough to be proud of.

[Golgot]

Most E1's to E4's in the military that have families qualify for welfare benefits, comeon lets pay our men and women in uniform at least enough to be proud of.

Ah, well now, that'd be discretional spending now wouldn't it. Still, of the type that Republican hardliners would like, so may they'd let him off ;).

Should be done tho. With the unilateral interventionist approach of the Bush-admin it's something they need to address for sure.

I do hope these new jobs are good quality as you say before. (altho the less in the biotech-food industry the better. Until they produce decent products, it's a dodgey market. In that area at least, i'm very dubious about the validity of all the investment going in that's sustaining uncompetitive, and potentially destructive, goods)