Friday, May 06, 2011

Hope and Change, Unemployment Up To 9%

Watching and listening to the stock channel. They are peeing in their pants and dresses on how the stock market futures are way up, life is good, 

My question, gov stats show an increase of 244,000 new jobs and unemployment goes up from 8.8% to 9%? How is that good news? 

Looks like oil and gasoline futures are going up also. Short lived decrease in gasoline. Huh!

Economy adds 244k jobs, rate ticks up to 9 pct. - Yahoo! Finance

Economy added 244k jobs in April, 3rd straight month of solid hiring; rate ticked up to 9 pct.

Jeannine Aversa, AP Economics Writer, On Friday May 6, 2011, 8:32 am
WASHINGTON (AP) -- Employers added more than 200,000 jobs in April for the third straight month, the biggest hiring spree in five years. But the unemployment rate rose to 9 percent in part because some people resumed looking for work.

The Labor Department says the economy added 244,000 jobs last month. Private employers shrugged off high gas prices and created 268,000 jobs -- the most since February 2006.

The gains were widespread. Retailers, factories, financial companies, education and health care and even construction companies all added jobs. Federal, state and local governments cut jobs.

The data suggests businesses are confidence in the economy despite weak growth earlier this year.

Still, unemployment increased slightly from the 8.8 percent in March. It was the first increase since November"

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