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Ear to the Ground

April Conundrum: More Jobs, Higher Unemployment

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Posted on May 8, 2011
Flickr / wallyg Some rights reserved

A sculptural grouping at the FDR Memorial in Washington depicts a Depression-era bread line.

Private sector employment exceeded analysts’ expectations by adding 268,000 jobs last month, 37,000 more than were gained in March, the Bureau of Labor Statistics reports. But because more Americans stated they were looking for work, the official U.S. unemployment rate rose to 9 percent. —ARK

Politico:

The unemployment rate rose slightly to 9 percent in April — the first gain in the rate since November — even as the economy added more jobs than during any month since 2006.

In all, nonfarm payrolls grew by 244,000 last month, the Bureau of Labor Statistics announced Friday, beating many analysts’ expectations that gains might be just 185,000. Market futures rose on the news, which startled investors who expected to see mediocre numbers that might have suggested that the economic recovery is stalling.

The overall jobless rate is up because more Americans indicated that they were looking for jobs than had in previous months, as opposed to being out of work but not actively on the job hunt.

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By mlb, May 9, 2011 at 8:28 am Link to this comment

Some relevant stats:
- Real earnings in the US will contract for the fourth year in a row, the first time it’s happened since the 1870’s.
- Household disposable income is expected to drop by 2% this year.
- Annual rate of growth in the US was 1.8% in the first quarter, down from 3.1% in previous quarter.
- Over the past year, the US economy has grown by 2.3%.  2.5% growth is necessary just to keep pace with the expanding workforce.
- The average time it takes Americans to find a job is now 39 weeks, the longest ever recorded.
- Jobless rates among 16-24 year olds is 18.4%, a record.
- Corporate profits are way up, due almost entirely to wage and other cost cutting.  Liquid assets rose to $1.93 trillion in 3rd quarter of 2010, up 14%, but corporate fixed investment is down 15% from pre-crisis levels.

(http://www.wsws.org/articles/2011/may2011/pers-m07.shtml)

Looks to me like the “economic recovery” is a chimera created by the corporate/state media.

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prisnersdilema's avatar

By prisnersdilema, May 9, 2011 at 8:04 am Link to this comment

Man’s search for meaning and truth focused, in this headline.

It’s dificult to understand, what this means, when there are so many different interpretations of just what the monthy economic numb ’ ers, mean.

People, know vicerally something different, than what they are told, despite the steady incantations of those that wish us to believe, that all is well and they are in control.

As long as Wall Street continues to suck the blood out of this country, it’s criminals free to rape and pillage the countryside, then what we are told to think, will not match what we feel, and experience, in our lives.

Lying, is now the new normal.

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By surfnow, May 9, 2011 at 5:03 am Link to this comment

Two weeks ago, the MSM made a big deal about the fact that McDonalds was hiring 62,000 nationwide. Only in a warped, upside-down, insane universe is this the good economic news it was portrayed as:  1,000,000 applicants for 60,000 minimum wage jobs flipping burgers.

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