Friday, April 2, 2010
March jobs report shows growth
This article is about the growth of jobs in the month of march. It was reported by the department of Labor that there was a gain of 162,000 jobs in the U.S. economy, which was just short of what they project at 184,000. Analysts said that one of the reasons for such an increase is because the Census Bureau has hired 48,000 people, which in the short run inflates the picture of the current job market. Since the start of the recession 8.2 million jobs have been lost and the current unemployment rate is at 9.7%. Despite these facts this is still relatively good news, this is the third increase in five months and people believe this might be the time when the job market is stabilizing.
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With more people regaining their confidence and entering the job market, the unemployment rate may be slow to recede. However, a gain of 162,000 jobs certainly represents the turning point of the labor market that will help spur economic recovery.
ReplyDeleteIt's clear that the hiring of 48,000 people by the Census Bureau has a tremendous positive impact on the U.S. job market. Another factor which has contributed to the job growth may be the $17.6 billion job bill approved earlier by the Congress, giving financial incentives to business owners to hire workers
It is a good news that the job findings’ rate is growing. Beside the reason mentioned in this article that the Census Bureau has hired a large number of people, according to another report I have read(which I chose as the article linked to one of my post--Manufacturing grows at fastest rate since 2004), I think the growth rate of manufacturing also makes contribution to the growth trend of job findings.
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