US employers adds 175,000 jobs, rate falls to 7.5% | TigerDroppings.com

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OnTheBrink
Alabama Fan
TN
Member since Mar 2012
3539 posts

US employers adds 175,000 jobs, rate falls to 7.5%



quote:


WASHINGTON (AP) -- U.S. employers added 165,000 jobs in April, and hiring was much stronger in the previous two months than first thought. The gains trimmed the unemployment rate to a four-year low of 7.5 percent.

The Labor Department report showed the job market is improving despite higher taxes and government spending cuts.

In addition to the April gains, the government said employers added 138,000 jobs in March and 332,000 in February. That's 114,000 more over the two months.

The economy has created an average of 208,000 jobs a month from November through April. That's above the 138,000 added in the previous six months.

A fire overnight at the Labor Department's headquarters shut down the building for most employees. Members of the media were allowed in for the release of the report.


The Dow(mini) spiked to plus 111 points after this came out. Is my Yahoo Finance broken? I realize it is a pretty good report, but damn.







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OnTheBrink
Alabama Fan
TN
Member since Mar 2012
3539 posts

re: US employers adds 175,000 jobs, rate falls to 7.5%


I guess it's not, the next article...

quote:

NEW YORK (Reuters) - Stock futures shot up on Friday after data showed employment rose more than expected in April, pushing the unemployment rate down to 7.5 percent, which could help ease concerns of a sharp slowdown in the economy.

S&P 500 futures rose 8.5 points and were above fair value, a formula that evaluates pricing by taking into account interest rates, dividends and time to expiration of the contract. Dow Jones industrial average futures added 79 points and Nasdaq 100 futures rose 17 points.


I'll take it!






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LSURussian
LSU Fan
Baton Rouge
Member since Feb 2005
80159 posts

re: US employers adds 175,000 jobs, rate falls to 7.5%


Irrational exuberance, Part Deux???





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OnTheBrink
Alabama Fan
TN
Member since Mar 2012
3539 posts

re: US employers adds 175,000 jobs, rate falls to 7.5%








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BennyAndTheInkJets
Arkansas Fan
NYC
Member since Nov 2010
3828 posts

re: US employers adds 175,000 jobs, rate falls to 7.5%


Not bad, the participation rate stayed constant as well. Better than dropping again more. I'll take it.

:minivictories:

Nowhere near the White House's projected figures per month but I mean, I seriously doubt anybody in the administration even thought that was possible.






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wegotdatwood
Arkansas Fan
Member since Aug 2009
17094 posts

re: US employers adds 175,000 jobs, rate falls to 7.5%


Any truth to it being a ton of part-time <30 hours a week?





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ZereauxSum
LSU Fan
Lot 23E
Member since Nov 2008
7992 posts
 Online 

re: US employers adds 175,000 jobs, rate falls to 7.5%


It's kind of depressing that we are, what, like 4 years into the recovery and we're excited about 165K jobs added.

It's a good number in the context of where we are, but where we are just seems like a kind of dismal place.

Geez...it's Friday...why am I feeling like this






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BennyAndTheInkJets
Arkansas Fan
NYC
Member since Nov 2010
3828 posts

re: US employers adds 175,000 jobs, rate falls to 7.5%


quote:

Any truth to it being a ton of part-time <30 hours a week?

Oh yea, there is a large amount of underemployment in the labor force. Even weekly hours worked dropped 0.2 hours this month. You'll see that even more with the implementation of ObamaCare, employers would just much rather raise hourly pay and drop hours so they fall under the minimum required to provide healthcare. Lower costs for the already cash strapped companies.






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Janky
LSU Fan
Team Primo
Member since Jun 2011
7245 posts

re: US employers adds 175,000 jobs, rate falls to 7.5%


There were huge revisions as well.





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BennyAndTheInkJets
Arkansas Fan
NYC
Member since Nov 2010
3828 posts

re: US employers adds 175,000 jobs, rate falls to 7.5%


Yep, good point. A +50k revision to March.





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Janky
LSU Fan
Team Primo
Member since Jun 2011
7245 posts

re: US employers adds 175,000 jobs, rate falls to 7.5%


quote:

A +50k revision to March.


Yeah, from 88k to around 140! Either we need better people doing that job or maybe the numbers are being creatively handled.






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Coeur du Tigre
LSU Fan
Waiting for Geauxdeaux.
Member since Nov 2008
300 posts

re: US employers adds 175,000 jobs, rate falls to 7.5%


April ISM released.

Business Activity Index at 55%
New Orders Index at 54.5%
Employment Index at 52%

"The NMI™ registered 53.1 percent in April, 1.3 percentage points lower than the 54.4 percent registered in March. This indicates continued growth at a slightly slower rate in the non-manufacturing sector. The Non-Manufacturing Business Activity Index registered 55 percent, which is 1.5 percentage points lower than the 56.5 percent reported in March, reflecting growth for the 45th consecutive month. The New Orders Index decreased by 0.1 percentage point to 54.5 percent, and the Employment Index decreased 1.3 percentage points to 52 percent, indicating growth in employment for the ninth consecutive month. The Prices Index decreased 4.7 percentage points to 51.2 percent, indicating prices increased at a slower rate in April when compared to March. According to the NMI™, 14 non-manufacturing industries reported growth in April. Respondents' comments remain mostly positive about business conditions. Cost management and revenue pressures are areas of concern for many of the respective companies."






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90proofprofessional
LSU Fan
Member since Mar 2004
8612 posts
 Online 

re: US employers adds 175,000 jobs, rate falls to 7.5%


quote:

Yep, good point. A +50k revision to March.

And +60k for February. Q1 GDP seems likely to get revised upward too now imo

eta: QE>>>>>>>>>>>>>>>>>>>>>>>>>>sequester



This post was edited on 5/3 at 10:15 am


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