Jobs market is still springing surprises

I AM prepared to accept that the American economy faces some, and perhaps many, structural labour market problems. It would be strange if there were no structural issues slowing employment growth, and it would be stranger still if a sustained period of very high long-term unemployment didn't add to these problems. But if you're looking to explain the painfully slow recovery in labour markets, you don't need to focus on these structural problems. All you really need to look at is the path of GDP growth.

ON FRIDAY, the Bureau of Labour Statistics reported an increase in payroll employment of 227,000 jobs in the month of February. Encouragingly, job gains for December and January were revised upward, by 20,000 and 41,000, respectively. It was the second upward revision for the December payroll total, which was also nudged upward in the January release. Upward revisions have been quite common during the recovery, in fact—a significant change from the norm during the period of heavy recession job loss.

By Ralph Shell: The much anticipated NFP Report, often a surprise to the market, proved to be a dud. While the total number of new jobs created was about as expected, continuing the tepid expansion, there were some changes of note within the report.The average work week increased by 0.1 per hour to 34.5 hours per week. There were 45K more health care jobs, 30K new construction hires, and 25K more in manufacturing. Retail jobs dropped by 19K.

Bernanke's blind faith in empirical formulas over common sense is again in play with his speech today on Recent Developments in the Labor Market.

Recent reports from the Labour Department showed that the US market has started recovering as employers have opened well above the expected new positions and forecasts indicate that this trend will continue in the future months.

We have people without jobs and jobs without people TORONTO — A CIBC report released Monday suggests Canada’s economic prosperity is at risk due to a labour market split that sees high-demand positions go unfilled while lower-skilled workers languish in unemployment. “We have people without jobs and jobs without people,” said author and deputy economist Benjamin Tal.

California Tax Revenue Plunges Inquiring minds have noticed a huge plunge in California Tax Revenue for the month of February compared to February 2011.