April jobs report doesn't 'ease fears' for everyone

info@islandpacket.comMay 8, 2013 

A May 4 Associated Press story, "April job gains ease fears about economy," leaves out some very important facts.

On the surface, the addition of 165,000 new jobs would be positive news, but only if the number of hours worked per employee remained the same or even increased slightly. According to the Wall Street Journal, "total hours fell sharply, and the total amount of money earned by U.S. workers declined from the month before."

The full jobs report indicated that the average work time was cut by 12 minutes, which, when factored over 135 million workers, is the equivalent of a loss of more than 500,000 jobs. Quite a difference.

The Wall Street Journal also reminds us not to take one-month results too seriously, whether positive or negative. April was not a disaster, but it certainly was not strong enough to "ease fears" about the economy.

Does the Associated Press not look at the details of employment figures, or is it only reporting what it wants readers to see? Both are unacceptable.

Dick Bradbury

Beaufort

The Island Packet is pleased to provide this opportunity to share information, experiences and observations about what's in the news. Some of the comments may be reprinted elsewhere in the site or in the newspaper. We encourage lively, open debate on the issues of the day, and ask that you refrain from profanity, hate speech, personal comments and remarks that are off point. Thank you for taking the time to offer your thoughts.

Commenting FAQs | Terms of Service