WASHINGTON (AP) — Hiring rebounded in March as U.S. employers added a solid 196,000 jobs, up sharply from February’s scant gain and evidence that many businesses still want to hire despite signs the economy is slowing.
The Labor Department says the unemployment rate stayed at 3.8%, near the lowest level in almost 50 years. Wage growth slowed a bit, as average hourly pay increased 3.2% from a year earlier. That is down from February’s gain of 3.4%, which was the best in a decade.
The figures suggest that February’s meager job growth, which was revised to 33,000 from an initial 20,000, was a temporary blip and that businesses are confident the economy remains on a firm footing. Still, the U.S. faces several challenges, including cautious consumers, slower growth in business investment, and a U.S.-China trade war that is contributing to slower growth overseas.
And how many of these are jobs that pay a decent wage and provide benefits… Most are likely part time and gig jobs. This statistic has become meaningless
It’s not the jobs so much as the wages. They need to grow. Trump figures he can collect more revenue with more jobs by forcing Medicare recipients and others to work at low paying menial jobs. Problem with that scenario is those people will more likely qualify for a bigger tax refund and end up paying nothing at all into the system after all tax credits.
The S&P projected PE ratio needs to reverse direction. Last week they were at 17.03. Week before 16.98. Week before that they were 16.58. If this does not turn around, there will be a market sell off.
I’m looking forward to the number this week. It’s due out after the market closes today. It’s released every Friday.
The market mostly rises and falls on forward earning projections.
Same economy as we had under Obama with one massive difference: the GOP economy is based on record-shattering deficits. It’s a fake economy.
“The figures suggest that February’s meager job growth, which was revised to 33,000 from an initial 20,000, was a temporary blip…”
If this had happened during Obama’s term in office, the AP would be screaming about how it was the worst economic downturn since the Great Depression.
One aspect of the report confuses me.
Apparently, the civilian workforce dropped by 224,000 in March, 45,000 in February and 11,000 in January.
So, who exactly is working? Don’t tell me all those people who are no longer in the workforce are retired. There are way too many older people who need to continue working.