Yawning Over Today’s Uemployment Numbers April 4, 2014Posted by geoff in News.
The March unemployment numbers came out today, and were kind of blah. By “blah” I mean that by my metric (plotted below), today’s numbers were essentially the same as last month’s numbers. And the numbers from January.
According to the Household Survey, we added 476K jobs, but we added 503K people to the labor force. So we didn’t gain any ground against unemployment.
As usual, the part-time jobs have a huge influence on the numbers. Of the 476K jobs added, 414K were part-time.
Honestly, all the “America is in Recovery” stories you hear don’t impress me much. The employment situation is generally improving, but at a glacial rate. Real estate activity has perked up, but mostly in areas where foreign investors are trying to find a safe harbor for their wealth. The stock market has been doing great, but it’s been propped up by Quantitative Easing for years.
Our economy still seems pretty feeble to me.