Big March Miss: Only 126,000 Jobs Created

2015 April 3
by bc3b

And how many of those are part-time jobs or McJobs? Is the job market beginning to tank?

The Fed and the media have been working 24/7 to make things look good for Obama regardless of future consequences.

The U.S. added just 126,000 jobs in March, well below expectations of 245,000 jobs, leading to concerns that a long run of labor market momentum has stalled. The government also sharply revised downward job creation numbers for the first quarter.

Over the prior 12 months, employment growth had averaged 269,000 per month so the disappointing March numbers were very much unexpected.

“Now we begin the process of trying to figure out whether this is a one-off situation because we know growth was weak during the first quarter, well short of expectations,” said Mark Hamrick, an economic analyst with Bankrate.com, in an interview on FOX Business. “No doubt about it, with the payroll shortfall here, this is a disappointing jobs report.”

The headline unemployment rate was 5.5% last month, matching expectations, and holding steady at its lowest level in six years, according to data released Friday by the Labor Department.

Employment continued to trend up in professional and business services, health care,
and retail trade, while mining lost jobs.

Once again, wages and the labor force participation rate, which are two indicators closely watched by Federal Reserve policy makers for signs of broader economic growth, barely moved.

Well below projections? About 50% of projections. Can this be termed “unexpected?”

Let’s see how the mainstream media spins this.

Read more:

Hat tip: Fox Business

8 Responses leave one →
  1. 2015 April 3 10:13 am
    [1]
    justrand permalink

    bc3b…leave this post up…it is important (we can have two up at once) 🙂

  2. 2015 April 3 10:13 am
    [2]
    justrand permalink

    EVERYTHING Obama has touched is falling apart…by DESIGN!!!

  3. 2015 April 3 11:45 am
    [3]
    TLS permalink

    Hmmm, I wonder what this number will get “revised down” to?

  4. 2015 April 3 2:57 pm
    [4]
    gnqanq permalink

    Found this comment on another forum. Very enlightening on how the numbers are worked.

    .
    .

    I know this discussion took place back in August of 14 but I thought I should mention what I observed as a BLS-funded state employee working on employment numbers.

    When I started working for them in 2005 we had a lot of latitude in our estimates of job creation/contraction. We used their models and benchmarked to our unemployment data. We were consistently very accurate with our estimates.

    The way it worked was simple. We completed estimates by supersector for each MSA in our state and at the state level. The MSA totals did not always add up to the state total because of employment levels outside of the MSAs that were included in the state estimates. From there are estimates were given to the feds and they always took them with little or no recommendation. The feds also ran estimates for the nation as a whole, and the sum of the state’s estimates was often very different from the federal numbers.

    Fast forward a few years. The feds didn’t like it that the state numbers did not add up to their estimates. So to fix that they ran their nationwide estimates first (rather than the other way around) and then TOLD the states what their totals were going to be. From there we just spread the numbers out to our MSAs to keep job levels proportional. It was a total joke.

    Fast forward to when I left in 2010. The feds decided to drop the charade and took complete control over employment estimates from the states. All states do now is give recommendations to the federal estimates. There is very little input at the state level anymore. Some dipwad analyst in the basement of the BLS headquarters is estimating employment for states they have never been to and know next to nothing about.

    I wouldn’t trust their numbers any more than I would North Korea’s output figures. They are completely and utterly unreliable at this point.

  5. 2015 April 3 4:49 pm
    [5]
    mulletover permalink

    Figures lie and liars figure.

  6. 2015 April 3 6:17 pm
    [6]
    IndyOldMan44 permalink

    There is nothing coming out of this government that even comes close to the truth! Just looking at the real numbers of this economy show this country is a banana republic! What a joke. Oh forgot who’s on Dancing with the Stars. I don’t think this year will end well.

  7. 2015 April 3 6:38 pm
    [7]
    drdog09 permalink

    6,

    Welcome to Pravda! Best way to read Pravda is by what is not in the current edition.

  8. 2015 April 3 8:46 pm
    [8]
    justrand permalink

    Indy & drdog…40% of the population will believe ANYTHING they are told and/or not bother paying attention. Most will perish in the first few days after the SHTF

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