Sunday, April 04, 2010

Has the unemployment situation really bottomed?

Seeking Alpha” has a “Russian Easter” Sunday morning article “Has U.S. employment bottomed?”, with link here.

48000 of the 162000 jobs added in March were temporary census workers, many of them enumerators for about two months. It looks like I will be one of those. Mailed returns of forms seem to be lagging, so the process of counting could take a while, adding a little to employment income for some (hence to tax receipts and even FICA receipts). (By the way, the 2010 Census announcements, talking about "we can't move forward until we know what we need", sound just a tad pink to me in tone; I wonder if Madison avenue wrote the ads.)

The article points out that household surveys indicate a turnaround in employment in the last three months, and the BLS indicates a bottom in blizzard-worn February.

The BLS Economic News Release is here.

Information technology employment, since it is loosely defined, is much harder to track.

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