Jobs Report: The Beginning of a Disappointing Trend?(ZT)# Stock
l*m
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Job creation steeply declines
http://finance.yahoo.com/blogs/daniel-gross/jobs-report-beginni
It's a good thing the stock market isn't open Friday. If it were, the
disappointing March employment report, a rare piece of negative economic
news this spring, would likely have caused stocks to nosedive. As it was, U.
S. stock futures (which were open) slipped, the dollar is falling and
Treasury prices are spiking on the report.
The Bureau of Labor Statistics said the U.S. economy added only 120,000
payroll jobs in March, a sharp decline from recent jobs growth. The
unemployment rate slipped to 8.2 percent from 8.3 percent in February, but
that's largely because the workforce declined. In short, this is the type of
report that is more typical of an economy beginning to emerge from
recession than one that has been growing for nearly three years.
The addition of 120,000 jobs represents the 15th straight month in which
jobs were added. Compared with March 2011, there were 1.9 million more
payroll jobs in the U.S. in March 2012. But this represents a sharp slowdown
from the pace of job creation. In each of the previous three months, the
economy had added more than 200,000 positions. As is typical, the Bureau of
Labor Statistics also revised the job creation for previously reported
months. The January figure was revised from a gain of 284,000 to a gain of
275,000, while the February figure was revised up from 227,000 jobs created
to 240,000. Looking back, BLS discovered an extra 4,000 jobs that it hadn't
detected last month — a negligible figure.
http://finance.yahoo.com/blogs/daniel-gross/jobs-report-beginni
It's a good thing the stock market isn't open Friday. If it were, the
disappointing March employment report, a rare piece of negative economic
news this spring, would likely have caused stocks to nosedive. As it was, U.
S. stock futures (which were open) slipped, the dollar is falling and
Treasury prices are spiking on the report.
The Bureau of Labor Statistics said the U.S. economy added only 120,000
payroll jobs in March, a sharp decline from recent jobs growth. The
unemployment rate slipped to 8.2 percent from 8.3 percent in February, but
that's largely because the workforce declined. In short, this is the type of
report that is more typical of an economy beginning to emerge from
recession than one that has been growing for nearly three years.
The addition of 120,000 jobs represents the 15th straight month in which
jobs were added. Compared with March 2011, there were 1.9 million more
payroll jobs in the U.S. in March 2012. But this represents a sharp slowdown
from the pace of job creation. In each of the previous three months, the
economy had added more than 200,000 positions. As is typical, the Bureau of
Labor Statistics also revised the job creation for previously reported
months. The January figure was revised from a gain of 284,000 to a gain of
275,000, while the February figure was revised up from 227,000 jobs created
to 240,000. Looking back, BLS discovered an extra 4,000 jobs that it hadn't
detected last month — a negligible figure.