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Tuesday, March 26, 2019

The economy added 165,00 jobs in April and the unemployment rate dropped to 7.5 percent, according to the Bureau of Labor Statistics.

The strong initial report for the most recent month and revisions — March was revised up to 138,000 job gains and February to 332,000 — surprised economists, who were expecting about 140,000 new jobs. The unemployment rate is now at its lowest point in four year.

A total of 176,000 jobs would have been reported in April if 11,000 public employees had not been put out of work. The sequester took effect on March 1, but cuts and furloughs don’t truly kick for a full 90 days — it’s expected to kill as many as 750,000 jobs if it’s allowed to continue.

“Those looking for losses in sequester-sensitive industries could see some evidence in the report, as construction (down 6,000), government (down 11,000), and manufacturing (zero jobs added) all came in weak,” writes Jared Bernstein, economist and former advisor to Vice President Biden.

Yet the service economy is strong enough to continue adding jobs at a steady pace.

One of the leading indicators of a recovering economy is the fact that the United States actually paid off debt in the first quarter of the year. This is the result of increased taxes and cuts along with decreases in unemployment insurance payments and more people paying payroll tax.

More people are working now in the U.S. than at any time since September, 2008.

This animated chart from the White House shows 38 months of private sector job growth.

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AP Photo/Rogelio V. Solis

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6 responses to “Economy Beats Estimates, Adds 165,000 Jobs — Despite Sequester”

  1. Betta says:

    WOW! You guys are really a jaded bunch aren’t you? I know you guys don’t like truth because the lie “feels” better doesn’t it. Sure it does. Well here is what those numbers REALLY mean.

    Firstly, unemployment only counts those who have looked for work the past 4 weeks. Many people have given up looking for work. Those people are not counted so, what do you think the unemployment figures truly are? You may be astounded. Any idea? HELLOOOOOO!

    Secondly, if you guys would really take the time to do some research instead of listening to talking heads you might learn a thing or two or three.

    April’s job growth came from low-wage, temporary, and part-time work. You know why right? Economist Douglas Holtz-Eakin said of the market’s growing reliance upon marginal jobs, “The decline in hours and the rise of part-time work is troubling in light of anecdotal reports of the impact of the Affordable Care Act.” That’s only one of the causes.

    Make no mistake, we are STILL losing jobs because of BO’s irresponsible economy and job killing policies. Be blind to the truth if you want to be. Research for the truth. What you’re being told is a lie.

    Thirdly, in addition to all that and more, resistance to obamacare tax that they raped us with is growing. They arrogantly insult our intelligence on a daily basis and do whatever it is they want to do, then make us fund their illegal and unconstitutional clandestine activities. They do it only because we let them.

    Believe the government and talking heads at your own peril. You will be ass out when the SHTF and they will be somewhere safe and sound while you die.

    • Jim Myers says:

      Well, the reason the wages are dropping is because the so called JOB CREATORS figured out that there are so many people out of work that they don’t have to pay a decent wage.

      This problem will continue to haunt us until the so called JOB CREATORS decide to start paying decent wages, full work weeks, medical insurance, etc.

      Take away tax breaks for shipping jobs overseas, provide incentives based on decent wages and working conditions, provide incentives to invest in REAL JOB CREATION, and slowly but surely the equation will equalize. Not before.

      As real wages increase, so will demand for more products.

      When people do not have enough money for their every day needs, it’s hard to think about buying a house or a new car.

      • RobertCHastings says:

        Right on,bro.
        It’s amazing how so many conservatives actually think everybody has a $100K/year job, or should have one. They don’t carry that one through to its logical conclusion that if everyone DID get $100K/year, $100K wouldn/t bewroth much. It’s precisely why DeBeers has such stringent control on the distribution of diamonds. If all the diamonds out there were released, diamonds would be worth less than camel crap.

    • RobertCHastings says:

      Why are you quoting Holtz-Eakin? He was one of the chief architects of the Great Recession with his conservative advice. Who is it that’s listening to the talking heads? And who was it that declared Obamacare constitutional? You seem to have missed the bus somewhere.

  2. clarenceswinney says:

    SEQUESTRATION
    YUK!
    Budget Control Act passed Congress August 2,2011.
    The “super committee” did not even submit a proposal to cut spending by $1500 B
    over ten years. If they failed, then Sequestration kicked in January 2, 2013.
    Now what? Cut backs are being adjusted or eliminated due to damage to services by our government. Hear the rich screaming? No! House reversed the furlough of 15,000 air traffic controllers. Head Start? Chemo for cancer patients? In Arizona, 43,000 work for Defense in 2000
    companies. Boeing has 500 local suppliers. The Defense supply chain will be affected.
    Sequestration is our Economy Killer. We are still in a Jobs Recession. College grads taking minimum wage jobs. My son works for the Energy Department and they are trying to adjust jobs not to hurt production.
    Our budget problems are from one thing only. Cheney-Bush.
    Took 1800B Budget to 3500B. Took surpluses as far the eye can see to 1400B Deficit on 9-30-09
    Took 5800B of Debt on 9-30-01 to 11,900 on 9-30-09—–Doubled in 8.
    Took 237,000 jobs per month to 31,000.
    Cut revenue with tax cut for upper class.

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