ECONOMY - Jobs as of 4/2/2010

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"Signaling Jobs Recovery, Payrolls Surged in March" by CATHERINE RAMPELL & JAVIER C. HERNANDEZ, New York Times 4/2/2010

Excerpt

After losing eight million jobs since the recession began in December 2007, payrolls finally surged in March, the Labor Department reported on Friday. Employers added 162,000 nonfarm jobs last month. Nationwide, the unemployment rate held steady at 9.7 percent.

“We are beginning to turn the corner,” said President Obama, speaking in Charlotte, N.C., calling it “the best news we’ve seen on the job front in more than two years.”

Though everything seems to be moving in the right direction, he was careful not to raise expectations too high. “It will take time to achieve the strong and sustained job growth that we need,” President Obama said.

The economy needs to add more than 100,000 jobs a month just to absorb new entrants into the labor market, let alone provide a livelihood for the 15 million Americans already looking for work. Without constant, robust growth, the unemployment rate won’t budge. Indeed, the Congressional Budget Office has projected that the rate will hover around 10 percent for the rest of the year.

Still, economists saw signs in the latest report that the economy was poised to make steady, if slow, progress.

“Every major industry, except financial services and information, showed gains in employment,” John Ryding, chief economist at RDQ Economics, said. “From manufacturing, to construction, to retail, it really didn’t matter. They’re all hiring now.”

Private-sector job growth was again strongest in temporary help services and health care. The nation added 40,000 temporary service jobs last month, indicating that many employers were testing the waters before taking the plunge with a permanent hire. The health care industry, which grew steadily even during the depths of the recession, expanded by 27,000 jobs in March.

The March report may have been inflated, though, by a rebound from February when many people could not work because of snowstorms. Additionally, nearly a third of the hiring in March was temporary work on the 2010 census.

OK, job recovery is not perfect, but it is well on the way.

Reminder, the Obama Administration has always said the recovery would be long and slow, especially in the job market, but recovery is happening despite what the GOP and their Tea-Bagger Storm Troopers say.