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View Diary: Jobs Report: Stick a Fork in the Doomers, they are Done. (62 comments)

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  •  Really? (3+ / 0-)

    Goods producing industries minus 9,000
    Service +185,000

    So jobs created in bars, restaurants, retail and temp, but lost in manufacturing and construction. Sounds good to me.

    Hours worked down, average hourly wage down ....

    What seems to have happened is that companies are adjusting their workforce to adjust for the new healthcare law. They are cutting hours for full time folks and then adding more part timers to replace them to keep everyone below the limit for health care. So jobs are up ... but each job gained is part time, and in the process a full timer also goes part time. Not sure this is great news.

    There's room at the top they're telling you still But first you must learn how to smile as you kill If you want to be like the folks on the hill

    by taonow on Fri May 03, 2013 at 06:08:07 AM PDT

    •  Actually (9+ / 0-)

      the biggest gain was professional services at +73k.  Also, the average was was up 4 cents month over month "In April, average hourly earnings for all employees
      on private nonfarm payrolls rose by 4 cents to
      $23.87."

      And, it is not necessarily a bad thing to have more people working even if it is slightly fewer hours (we went from 34.6 to 34.4 hours on average).  

      Finally, like every month in recent history, this will get revised up substantially.

      •  temp (3+ / 0-)
        Recommended by:
        tardis10, gjohnsit, terrybuck

        1. the biggest portion of the professional services gain was temp (as a subclass)
        2. you are right on the avg hourly, looking at the wrong column ... but average weekly earnings were down as hours were down more than wages were up.

        There's room at the top they're telling you still But first you must learn how to smile as you kill If you want to be like the folks on the hill

        by taonow on Fri May 03, 2013 at 06:27:03 AM PDT

        [ Parent ]

      •  Part-time workers are good. (4+ / 0-)
        Recommended by:
        Odysseus, Kickemout, Deep Texan, SilverOz

        Technology makes us more productive. One payoff is that we should have to spend fewer hours at work.

        Obamacare will cover the part-timers through subsidies.

        I'm talking about long-term trends. I still think the short-term (1-2 years) could be trouble. We have not seen the impact of the sequester yet.

        I need to see a few more good months.

      •  MOST recent months have been revised upward... (1+ / 0-)
        Recommended by:
        kenlac

        ...but just two months ago, in March, January's job numbers were revised from 157,000 to 119,000.

        That doesn't wreck your overall theme, but it does point to the necessity of avoiding terms like "every," "always," and "never."

        Don't tell me what you believe, show me what you do and I will tell you what you believe.

        by Meteor Blades on Fri May 03, 2013 at 09:24:02 AM PDT

        [ Parent ]

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