We all want the jobs report to be good - but 162,000 is not that good report.

We found this chart with the title: Unemployment Numbers.

It is being reported that the economy added 162,000 new jobs while, at the same time, "unemployment" remained unchanged at 9.7%.

If you are not well read in terms of jobs/employment reporting (and which of you really have time to figure this out?) , you are in luck. Midknight Review and its retired, old, fat guy has the time and the sense to give you the truth as we define terms and put claims of the Administration into real time context.

The 162,000 new jobs is just half the story.

First, understand that these 162,000 new jobs are just that, jobs created by business - whether these positions have been filled or not. There is a corresponding number not often presented. It counts the number of job positions lost. Net job gain is the difference between these two numbers, of course. In order to have a net jobs gain, at this time, we need the creation of 220,000 t0 240,000. That is not the case and, as a result, this "positive" report falls short of stemming the trend to unemployment.

A more important number is the percentage of those unemployed or underemployed. That number rose to 20. 3% of the population -- representing the third consecutive month this number has increased. This particular number is the single most important number relating to the current jobs situation.

You might say, "But what about the 'unemployment rate' of 9.7% ?" Ah ! You might be surprised to know that this number is not a measure of the jobs market. Rather, it is a percentage report of those currently drawing unemployment benefits - 9.7 % represents approximately 11 million Americans on umemployment benefit. There is another 14 million Americans not working, no longer drawing benefits, and/or working parttime while waiting for full time employment.

In the final analysis, there is nothing good about the current jobs situation for the last week of March. --- jds
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