Congratulations, unemployed! Call your moms! Tell your neighbors! The economy’s on the upswing! You can now stop hoarding cans of soup and refried beans and telling people you blog for a living. According to the NYT, employers added 162,000 jobs last month. And all the experts have nothing but good things to say about the surging payrolls:
“The key message from this report is that we’ve finally turned the corner,” said Nigel Gault, chief United States economist at IHS Global Insight. “Going forward, we should expect things to strengthen further over the rest of the year.”
“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.”
But before you get drunk on champagne, a major reason for the upswing is temporary hiring. Almost a third of the new jobs are due to the new jobs working for the 2010 Census, which will continue over the next couple of months. (Hint: apply to work there). Since September 2009, temporary help services have added 313,000 jobs, including 40,000 last month, according to the article.
And to placate the Debbie Downers, it’s true that the national unemployment rate held steady at 9.7 percent. (The reason for the unchanging unemployment rate is probably due to some discouraged workers trickling back into the labor force and searching for jobs again.)
And before you start living on the edge, remember that “the economy must create 100,000 jobs each month just to absorb new entrants into the labor force, let alone provide a livelihood for the nation’s 15 million people already looking for work.”
Happy knocking on people’s doors reassuring them you’re not a burglar polling!