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March Unemployment Report

Friday, April 2, 2010 - 8:00 AM
From Bloomberg via BusinessWeek
Employment in the U.S. increased in March by the most in three years and the unemployment rate held at 9.7 percent as companies gained confidence the economic recovery will be sustained.
Lower unemployment will likely be an important factor for the Fed to lower rates.
1
Ken TuminKen Tumin5,468 posts since
Nov 29, 2009
Rep Points: 125,029
1. Friday, April 2, 2010 - 8:52 AM
"The March increase included 48,000 temporary workers hired by the government to help conduct the 2010 census. Average hourly earnings fell and hours worked rose."

This is good news? Until there are at least 150,000 private sector jobs created on a monthly basis this economy is treading water. And with those employed working longer hours for less money, why all the happy talk...except on Wall Street of course, where lower wages and less employees means higher corporate profits due to a decrease in labor costs. As far as the direction of interest rates, just look at the mantra from Bernanke, "an extended period of low rates".
1
AnonymousAnonymous2,282 posts since
May 9, 2010
Rep Points: 3,917
2. Friday, April 2, 2010 - 1:59 PM
Yes, it'll probably going to take a lot better employment numbers than these before the Fed starts to move toward higher rates.
1
Ken TuminKen Tumin5,468 posts since
Nov 29, 2009
Rep Points: 125,029
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