U.S. Economy Added 303,000 Jobs in March

[anon_911569jwrmy3z]

It's called gouging. Corp profits up 105.7 billion in first Q.

Operating leverage. If you want to have a conversation with the intent of learning, then let me know. Otherwise, I will disengage. Let me know.

 

[BioHawk]

You said corporate greed is as the biggest contributor and I was trying to blame Biden. Neither one of those are correct. I’m not arguing with stupid.

You haven't debated anything other than to call me stupid. In fact, the only thing you've managed to do in this thread is ignore any arguments despite evidence contrary to your position being presented to you. I didn't even have to look very hard. So while you may want to believe corporate greed has nothing to do with it, there are a f**kton of people a lot smarter than you that say you are wrong. I'll go with those guys.

 

[IIowaFarmBoy]

Look at Iowa. The population growth comes from 1 demographic... immigration

Thanks Covid! We have employees losing their mind over being made to return to the office 50% of their time instead of once a week. And I saw a guy ask this question the other day..."Should I take a grade 12 remote job or a grade 13 job that I have to go in once a week. My commute is 5 minutes". It's over 10K more to drive 5 minutes once a week. smh.

Its not just covid. Low birth rate finally catches up. Abortions for everyone!

 

[IIowaFarmBoy]

For Bidenite's and Trumpsters that can't read, this article might help. Then again proly not.

Jobs Up 303,000 Full Time Employment Down 6,000 in March

The economy continues to add a high percentage of government and social assistance jobs. Part time employment rose by 691,000 as full time employment fell by 6,000.

mishtalk.com

 

[IIowaFarmBoy]

For Bidenite's and Trumpsters that can't read, this article might help. Then again proly not.

Jobs Up 303,000 Full Time Employment Down 6,000 in March

The economy continues to add a high percentage of government and social assistance jobs. Part time employment rose by 691,000 as full time employment fell by 6,000.

mishtalk.com

OK, not literate. We need a button to ID those.

 

[Tom Paris]

OK, not literate. We need a button to ID those.

You’re a sandwich short of a picnic.

 

[IIowaFarmBoy]

You’re a sandwich short of a picnic.

I do like to eat.

 

[FAUlty Gator]

 

[FAUlty Gator]

 

[FAUlty Gator]

 

[FAUlty Gator]

Uhhhh...Hooray?

 

[FAUlty Gator]

 

[St. Louis Hawk]

Uhhhh...Hooray?

Umm, partial graphs are fun. Click the 10 year button for the rest of the full time employment story.

United States Full Time Employment

Full Time Employment in the United States increased to 133684 Thousand in July from 133236 Thousand in June of 2024. This page provides - United States Full Time Employment- actual values, historical data, forecast, chart, statistics, economic calendar and news.

tradingeconomics.com

 

[FAUlty Gator]

Umm, partial graphs are fun. Click the 10 year button for the rest of the full time employment story.

United States Full Time Employment

Full Time Employment in the United States increased to 133684 Thousand in July from 133236 Thousand in June of 2024. This page provides - United States Full Time Employment- actual values, historical data, forecast, chart, statistics, economic calendar and news.

tradingeconomics.com

This thread needed some spicing up.

 

[TC Nole OX]

Biden lauds jobs numbers as Fox must again admit economy is booming

 

[pjhawk]

View embedded media

Joe Biden voice: Quote a credible source for just once in your life man.

 

[Huey Grey]

View embedded media

Pretty sad you're bagging on Biden for recovering all the jobs Trump lost and adding millions more.

 

[Finance85]

Case in point, everybody!!

8 Ways the Biden Administration Has Fought for Working People by Strengthening Unions

At a time when Americans are at their most pro-union, President Joe Biden and his administration are using all the levers of government to support working people and unions.

www.americanprogressaction.org

Non-answer. The case in point is you are clueless.

 

[franklinman]

Great job ole JOE, keep it going.

 

[Finance85]

Here are some quotes from the report, since most of the posters here can't see past the headlines.

Among the major worker groups, the unemployment rate for Blacks (6.4 percent) increased in March, while the rates for Asians (2.5 percent) and Hispanics (4.5 percent) decreased. The jobless rates for adult men (3.3 percent), adult women (3.6 percent), teenagers (12.6 percent), and Whites (3.4 percent) showed little or no change over the month. (See tables A-1, A-2, and A-3.)

The number of people employed part time for economic reasons, at 4.3 million, changed little in March. These individuals, who would have preferred full-time employment, were working part time because their hours had been reduced or they were unable to find full-time jobs.

In March, the number of people not in the labor force who currently want a job, at 5.4 million, was little changed. These individuals were not counted as unemployed because they were not actively looking for work during the 4 weeks preceding the survey or were unavailable to take a job.

In March, employment in government increased by 71,000, higher than the average monthly gain of 54,000 over the prior 12 months. Over the month, employment increased in local government (+49,000) and federal government (+9,000).

For comparison, total civilian employment (seasonally adjusted) -
March 2023 - 160,824,000
March 2024 - 161,466,000

Not in the labor force -
March 2023 - 41,309,000
March 2024 - 41,793,000

Part Time Workers for Economic Reasons -
March 2023 - 4,091,000
March 2024 - 4,308,000

Unemployment rate by Full or Part Time Status -
Full Time
March 2023 - 3.4%
March 2024 - 3.7%

Part Time
March 2023 - 3.9%
March 2024 - 4.4%

Federal Government Jobs
March 2023 - 2,900,000
March 2024 - 2,993,000

 

[Finance85]

Pretty sad you're bagging on Biden for recovering all the jobs Trump lost and adding millions more.

Trump didn't lose jobs; governors lost jobs.

Total employment, civilian non-farm -
January 2019 - 156,627,000
January 2020 - 158,659,000
January 2021 - 150,004,000
January 2022 - 157,122,000
January 2023 - 160,138,000
January 2024 - 161,152,000

It took over 2 years to recover the jobs lost to COVID (2020 to > 2022).
From January 2022 to January 2024, only about 4M jobs have been added. In that time, unemployment and labor participation have remained about the same, meaning the number of jobs added is organic due to population growth.

 

[CoachH]

Trump didn't lose jobs; governors lost jobs.

Total employment, civilian non-farm -
January 2019 - 156,627,000
January 2020 - 158,659,000
January 2021 - 150,004,000
January 2022 - 157,122,000
January 2023 - 160,138,000
January 2024 - 161,152,000

It took over 2 years to recover the jobs lost to COVID (2020 to > 2022).
From January 2022 to January 2024, only about 4M jobs have been added. In that time, unemployment and labor participation have remained about the same, meaning the number of jobs added is organic due to population growth.

You sure put a lot of work in to try to make Trump look good.

 

[Finance85]

You sure put a lot of work in to try to make Trump look good.

I said Trump didn't lose jobs. That's my only mention of Trump. I didn't give him credit for anything, and it would have been hard to make him look good from 2021 until now, since he's been out of office. Trump only really gets credit for keeping a few dozen attorneys employed.

 

[herkyhawk00]

U.S. job growth was strong last month, and the unemployment rate fell slightly.

U.S. employers added a seasonally adjusted 303,000 jobs in March, the Labor Department reported on Friday, significantly more than the 200,000 economists expected. The unemployment rate slipped to 3.8%, versus February’s 3.9%, in line with expectations.

The Federal Reserve is mandated to keep employment as strong as possible while keeping inflation under control. Balancing those objectives has put the central bank in a difficult position as it mulls cutting interest rates this year: Cut too soon, or by too much, and inflation could heat back up all over again. Wait too long, and the strain of high rates could damage the job market, pushing the economy into a recession.
The labor market has continued to add jobs over the past year despite high interest rates. At the same time, the unemployment rate has drifted up and wage gains have cooled. In March of last year, the unemployment rate was 3.5%.
Those dynamics have defied the conventional wisdom that, for inflation to cool, job creation would need to dramatically slow down.
Lately many economists and even Fed officials have come to believe that, in part as a result of immigration, the supply of available workers has increased. If that is right, the number of jobs can grow faster.
Supply alone isn’t enough to generate job gains, however; there has to be demand. At the moment, it still looks as if there is plenty of that. Layoff activity remains low, and the number of unfilled jobs is high, with the Labor Department reporting earlier this week that there were 8.8 million job openings as of the end of February. The job-opening rate, or openings as a share of filled and unfilled positions, was 5.3%. That has fallen over the past year, but in prepandemic 2019—a period of strength for the job market—that ratio averaged 4.5%.
But the share of people quitting their jobseach month has fallen to prepandemic levels, which indicates that the intensity with which businesses were hiring away workers from each other has subsided. Moreover, the private-sector job market has been drawing most of its strength from just two broad sectors—private education and healthcare, and leisure and hospitality.
Economists at Bank of America call those sectors “high touch.” Much of the work must be done in person, and a lot of it—such as waiting tables or working in a hospice—entails face-to-face interactions.
High-touch employment fell sharply when the pandemic hit, and even now, four years later, appears low. Relative to the trend during the five years before the pandemic, there are some two million fewer jobs in those sectors than might have been expected.
This raises a question, points out Bank of America economist Michael Gapen. “Should we expect employment in those sectors to return to their prior trend line? Or are there structural reasons to think maybe the employment gap will not close and therefore this catch-up effect could finish sooner?” he said.
He thinks the answer might be mixed. Lately, employment growth in leisure and hospitality has moderated. One reason why is that for some of those employers, business is still down—think restaurants near offices where many people are still working from home a few days a week. Another is that some businesses adopted practices when labor became short that probably won’t get undone. Lots of restaurants, for example, introduced QR codes in place of paper menus, allowing customers to place orders with their phones rather than waitstaff.
But for private education and healthcare, the story could be different. The loss of jobs these areas experienced when the pandemic hit was truly exceptional: Other than in 2020, employment in the sector has experienced near constant growth over the 85 years of available data. Moreover, the healthcare needs of an aging U.S. population will probably only grow. The sector is still about a million jobs short of its old trend. If that gap continues to narrow, as Gapen expects it will, it could help bolster job growth into next year.
Write to Justin Lahart at Justin.Lahart@wsj.com
Copyright ©2024 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

https://www.wsj.com/economy/jobs/jobs-report-march-unemployment-02c4050d?st=40b1qlozistzuu2&reflink=article_copyURL_share

I always wish they would investigate the percentage of people that have gotten second jobs. Not sure what it is and whether it has gone down or up, but I certainly feel that plays a role.

 

[Finance85]

I always wish they would investigate the percentage of people that have gotten second jobs. Not sure what it is and whether it has gone down or up, but I certainly feel that plays a role.

From Post #140

Part Time Workers for Economic Reasons -
March 2023 - 4,091,000
March 2024 - 4,308,000

Unemployment rate by Full or Part Time Status -
Full Time
March 2023 - 3.4%
March 2024 - 3.7%

Part Time
March 2023 - 3.9%
March 2024 - 4.4%