View Single Post
  #6   Report Post  
Tuuk
 
Posts: n/a
Default Economists "Cautious" About Employment Numbers

Come on there Harry,,,

Your going to have to give your head a shake after this one.







"Harry Krause" wrote in message
...
From the AP:


Economists remaine cautious.

"It is too early to celebrate," said Sung Won Sohn, chief economist at
Wells Fargo in Minneapolis.

*He noted that most of the increase was because of part-time workers.
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.*



(Part-time workers...no benefits...the GOP dream)

"The average duration of unemployment has been lengthening, persuading
unemployed workers to accept part-time jobs," Sohn said.

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.


(A 20-year high....the highest since the Resgan era)


Technical factors also contributed to the overall hiring increase, Sohn
said. Good weather helped boost employment in construction, which rose
by 71,000 last month. The end of a strike by California grocery workers
was a big factor in the increase in retailers' payrolls, which were up
by 47,000.


(Ahh,k weather and the end of a strike. Now that's Bush job creation for
you)



The average monthly gain in jobs in the past eight months has been about
95,000 - far below the 150,000 to 200,000 jobs needed to absorb new
entrants into the labor force, Sohn said. Like last month, the
unemployment rate could rise in coming months as workers decide to
resume their job searches.

"So overall, this is a good employment report but not a super employment
report," said Anthony Chan, chief economist at Banc One Investment

Advisors.

The jobless rate for blacks rose to 10.2 percent from 9.8 percent in
February. For whites, the rate rose to 5.1 percent from 4.9 percent. It
remained unchanged at 7.4 percent for Hispanics.