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April 5, 2013

'This Was a Disappointing Employment Report'

Can't disagree with CR's bottom line, "This was a disappointing employment report":
March Employment Report: 88,000 Jobs, 7.6% Unemployment Rate: From the BLS:
Nonfam payroll employment edged up in March (+88,000), and the unemployment rate was little changed at 7.6 percent, the U.S. Bureau of Labor Statistics reported today. ...
The change in total nonfarm payroll employment for January was revised from +119,000 to +148,000, and the change for February was revised from +236,000 to +268,000. The headline number was well below expectations of 193,000 payroll jobs added.  However employment for January and February were revised higher.
... The Labor Force Participation Rate decreased to 63.3% in March... The participation rate is well below the 66% to 67% rate that was normal over the last 20 years, although a significant portion of the recent decline is due to demographics.

The Employment-Population ratio was also declined to 58.5% in March (black line). ...

This was a disappointing employment report and worse than expectations.
Austerity matters.
Too bad we don't have something like a need for infrastructure that, if we were to employ people to overcome it, could hep with this problem.

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