April '11 unemployment rate up to 9%

but adds 260,000 jobs

This is unbelievable:

Among the marginally attached, there were 989,000 discouraged workers inApril, a decline of 208,000 from a year earlier. (These data are not seasonally adjusted.) Discouraged workers are persons not currently
looking for work because they believe no jobs are available for them.
The remaining 1.5 million persons marginally attached to the labor force in April had not searched for work in the 4 weeks preceding the survey for reasons such as school attendance or family responsibilities.See table A-16.

I worked and had a ton of family responsibilties. So 1.5 million of us are unemployed marginally due to family issues. I had terrible issues during my life and still went to work, what does this mean? Dazed

50,000 new jobs were from MacD's. hehe

Unemployment rate should show higher than that! But it does reflect that things are not getting better and that means "Quit Ignoring us".
Just thought of this: With new jobless claims at 479,000 and UE up to 9% then of the April 179,000 new jobs supposedly created then did McDonald's account for 150,000 of those jobs!!!!


Hello !!!!

Gallup Daily: U.S. Un-Employment Rate - May 4th 2011-

19.3 %

http://www.gallup.com/poll/125639/Gallup-Daily-Workforce.aspx

exhaustedandtired/1208 wrote: Unemployment rate should show higher than that! But it does reflect that things are not getting better and that means "Quit Ignoring us".
Just thought of this: With new jobless claims at 479,000 and UE up to 9% then of the April 179,000 new jobs supposedly created then did McDonald's account for 150,000 of those jobs!!!!


Hello !!!!

The McJobs accounted for 62,000 of these part-time, seasonal jobs. That would be 6 hired for every 100 applicants. There is a topic on this forum that includes a statement from a leading economist who said a person has a better chance of getting into Harvard than getting a McJob.

hahaha, that is funny. Media is continually telling us how the New Jobs number is very good, excuse me?

http://www.dailykos.com/story/2011/05/06/973596/-BLS:-Jobs-gain-more-than-expected,-unemployment-rate-rises-to-9-percent

Fri May 06, 2011 at 06:15 AM PDT.

BLS: Jobs gain more than expected, unemployment rate rises to 9 percentby Meteor Blades
for Daily Kos.
Share4 3permalink 69 Comments

The private sector added 268,000 jobs in April, according to seasonally adjusted figures announced this morning by the Bureau of Labor Statistics. Public-sector layoffs cut the net gain to 244,000. The gain was considerably higher than estimated by the consensus of experts in three surveys earlier in the week by Bloomberg, Reuters and The Wall Street Journal. It was also larger than any increase in private-sector hiring since February 2006.

But the official unemployment rate—U3—rose to 9 percent. An alternative measure—U6—that includes the underemployed and a portion of discouraged workers rose to 15.9 percent.

gettheminNOVEMBER wrote:http://www.dailykos.com/story/2011/05/06/973596/-BLS:-Jobs-gain-more-than-expected,-unemployment-rate-rises-to-9-percent

Fri May 06, 2011 at 06:15 AM PDT.

BLS: Jobs gain more than expected, unemployment rate rises to 9 percentby Meteor Blades
for Daily Kos.
Share4 3permalink 69 Comments

The private sector added 268,000 jobs in April, according to seasonally adjusted figures announced this morning by the Bureau of Labor Statistics. Public-sector layoffs cut the net gain to 244,000. The gain was considerably higher than estimated by the consensus of experts in three surveys earlier in the week by Bloomberg, Reuters and The Wall Street Journal. It was also larger than any increase in private-sector hiring since February 2006.

But the official unemployment rate—U3—rose to 9 percent. An alternative measure—U6—that includes the underemployed and a portion of discouraged workers rose to 15.9 percent.

....And Camp and Hatch want to stop putting money into the hands of the unemployed! They want to divert the tier money to the states to so they can pay down their debt to the feds and give tax breaks for their rich buddies!

Clueless morons!

I have to say Im actually amazed the rate went up. Its been coming down for months now.

Well one CNN commentor said this, the unemployment rate going up, is a good things, "it means people are getting Jobs!" Oh gosh, help me, something really strange is going on. Dazed

I googled "why is the UR going up a good thing" and here is a response. I wonder what they would have said had the UR rate gone down. I am so mixed up, I can't even think. This tells us there were wrong #'s in other months, I am getting crazy with this stuff, soon I won't need a job, I'll be in the looney bin:

Here read this:

Reference: http://gygicapital.blogspot.com/
This is by a Market Analysis
Way above consensus April Jobs report

The Department of Labor just released the April jobs report which was up 244,000 vs. the 185,000 expected number which is the most since December of 2006 and the unemployment rate moved up to 9% which is a good thing as it means that discouraged workers have re-entered the job market looking for employment. The unemployment rate had ticked down to 8.8% last month because many people had taken themselves out of the job market as they had become too discouraged to look for a job. Every aspect of this jobs report was good, hourly earnings increased by 0.3% vs. 0.2%, private sector job growth was 268k vs. 200k and February’s number was revised substantially higher from 68k to 235k. March also was revised for the better to 221k from prior 198k. Positive revisions for the better indicate an even better hiring environment. The only negative and I am picking nits here by even mentioning it is the work week was 33.6 vs. an expected 34.3 hours. What this all means is that employers continued to hire as they were paying existing employees more and this bodes well for consumer spending and GDP as we are a consumer driven economy. In reaction to the data, the stock markets is moving substantially higher, bonds are selling off and the US dollar is selling off as well, this is a classic risk on trade as a result of a very good jobs number.


Why don't they just come around and shoot us unemployeed... this stuff is nuts.