Friday, April 6, 2012
US Economy Adds 120K Jobs, Jobless Rate at 8.2%: A Mixed Jobs Report
The United States created a net of 240K jobs in February with the Unemployment Rate. Holding steady at 8.3% and in March we add 120K jobs. With the Unemployment Rate dropping to 8.2% but with fewer people looking for work. More people staying in the workforce looking for work. But not as a result of too many people going back to work. Meaning we still have a lot more work to do to generate some real Economic and Job Growth. That puts more Americans back to work. To the point our Unemployment Rate fall steadily, we finally get under 8% and fall even farther then that. The economy grew at over 3% last quarter, which is still isn't great. But an improvement and better then 1.8% or so that we great at in 2011. So hopefully thats a sign that Job Growth with higher Economic Growth. Will lead to more jobs being created in 2012, the problem is Gas Prices keep rising. And the more money people spend at the pump, the less they are spending doing other things. Buying other products that leads to Economic and Job Growth. The less shopping they do for example, the less cars they buy and so fourth.
One thing that Congress can do to help the economy and do what use to be a Bi Partisan thing. Is pass a long term Highway bill, so we can start to doing the work on much needed. Infrastructure Investment that we need around the country. The Republican House keeps passing two month extensions to the Highway bill. The Senate wants a two year extension and has passed one in the Senate. So if the House and Senate can come together and get this done. Especially in an Election Year, where Infrastructure Projects can help Members of Congress in both parties. Because they can see their unemployed Construction Workers back to work. And then their Representative and Senator will be able to take the credit for helping that person back to work.
The economy is clearly improving from 2011 and we are finally moving back to where we were. In January 2009 and then the Unemployment Rate took off from there. The first six months was the heart of the "Great Recession", with negative -7% Economic Growth. And losing 700K jobs per month, we are clearly past that. And moving back towards where we were in 2008 but we still have some work to do.