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Jobs Jobs But Not Enough

April 1, 2011 – 5:57 pm

The good news is that 216,000 jobs were created in March as reported by our government today and the jobless rate fell to 8.8 percent. This was the second month in a row where about 200,000 jobs were created. We all have to breathe a sigh of relief that at least the direction is creation, not destruction of jobs.

The bad news is that we lost 8,000,000 jobs in the recession and we need at least 150,000 per month to keep up with the new individuals entering the work force. We are nowhere near to putting a dent in the massive unemployment in our country. The way government counts and provides the unemployment rate at 8.8% is not accurate. The real rate, no one knows, but is likely in the mid-teens.

Still let’s take some pleasure that the direction has changed and looks to be staying in that trend for a while. As small as it is more jobs are being created than destroyed, finally.

Good Trading
Steve Peasley

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