Tagged: economy

Businesses added just 119,000 jobs to their payrolls in April, a sharp drop from an estimated 201,000-gain in March, according to the latest ADP National Employment Report.

The private group's report is "a troubling sign" two days before the Bureau of Labor Statistics issues its figures on April employment growth and unemployment, The Associated Press says.

The U.S. economy hit the recession exit ramp nearly three years ago, but it's been lost on the back roads somewhere near Recoveryville ever since.

Growth rates have been modest at best compared with the 4-plus percent growth in the years well before the U.S. began slouching toward its worst post-World War II recession.

It's hard out there for a college grad.

The AP analyzed government data and came up with this stunning figure: "Half of young college graduates [are] either jobless or underemployed in positions that don't fully use their skills and knowledge."

The whole story is worth a read, so we encourage you to click over, but here is the meat of the AP's analysis:

Transcript

STEVE INSKEEP, HOST:

Later this week, we get some key data to help judge the state of the nation's housing market. There are some early signs of recovery, but home prices are still falling in many areas, as NPR's Chris Arnold reports.

CHRIS ARNOLD, BYLINE: Tomorrow, we'll get the latest word on home prices from what's called the S&P Case-Shiller index. That keeps showing price declines in many areas. Though those price drops have been leveling off, so things definitely aren't as bad as they were.

Food stamps have long been a favorite whipping boy of politicians looking to beat up on government spending. But the massive food-assistance program does help keep people out of poverty, according to new research.

Food stamp benefits led to a decline of 4.4 percent in poverty from 2000 to 2009, according to a new report from the USDA's Economic Research Service.

Diane Turner can't find work. She spent 30 years managing dental practices in Sonoma County, north of San Francisco, but lost her last job in that field a couple of years ago.

She worked for a while greeting customers at an auto body shop, but lost that job a year ago. "It was very depressing," Turner says. "I always worked, and I was always able to get a job."

Transcript

MICHEL MARTIN, HOST:

The nation's unemployment rate edged down to 8.2 percent in March from 8.3 percent in February, but only 120,000 jobs were added to private and public payrolls the Bureau of Labor Statistics said this morning in a report that was less positive about the labor market's health than economists had expected.

Prior to the news, forecasters had predicted BLS would say about 200,000 jobs were added to payrolls last month.

The monthly employment report Friday could help answer a key question about the economy: Will the recently strong job growth slow once employers finish replacing the people they fired during the depths of the recession?

The number of people filing first-time claims for unemployment insurance stayed around a four-year low last week, the Employment and Training Administration just reported.

It says there were 357,000 such applications, down 6,000 from the previous week's revised figure of 363,000.

Claims have been running at the lowest rate since March and April 2008 for several weeks now.

Jobs at U.S. businesses increased by 209,000 in March, according to a report released Wednesday by the payroll processing firm ADP. That's in line with expectations for the monthly jobs report due out Friday.

Analysts expect Friday's official employment report from the Labor Department to show that employers added 215,000 in March and that the unemployment rate remained at 8.3 percent, according to Bloomberg News.

On the plus side, the ADP National Employment Report issued this morning estimates there were 209,000 jobs added to private employers' payrolls in March. And ADP's data often are something of a predictor for what the Bureau of Labor Statistics will have to say when it issues its monthly numbers. Those March figures are due on Friday at 8:30 a.m. ET.