Jobs report underwhelms: 88,000 jobs, 7.6% Unemployment Rate

Get ready for gloom-and-doomers to have their day. The Bureau of Labor Statistics March employment report came in this morning, with underwhelming tallies: 88,000 new jobs created (vs. expectations of nearly 200k), and a 7.6% unemployment rate that reflected more people not looking for work, rather than a greater absorption of unemployed. Sequestration kicks in harder than people expected, not only on the public sector hiring side but on private company hiring. At question still: who will buy stuff? how will they buy it (with earnings or handouts)? What’s the value of what I produce? Where’s my demand going to be? Read More