Jobs up 290,000; jobless rate rises to 9.9 pct.

[Mr. Big Dog 10,747]

"The unemployment rate rose from 9.7 percent in March to 9.9 percent in April, mainly because 805,000 jobseekers — perhaps feeling better about their prospects — resumed their searches for work."

I am confused about the above piece. How does an employed individual, seeking a better opportunity get rolled up within the unemployment rate?

I don't think it's the employed that look for a better / different job that pop up in the stats but the unemployed that had meanwhile given up on searching for employment and are now finding themselves looking for work again given the better prospects.

[William33 110]

I don't think it's the employed that look for a better / different job that pop up in the stats but the unemployed that had meanwhile given up on searching for employment and are now finding themselves looking for work again given the better prospects.

Got it, thanks for the clarification BD. I was confused about the wording, given that the unemployed should never give up the search. If one is unemployed, they probably need a job unless they happen to be independently wealthy.

Why would anyone do that if not in the aforementioned group, especially with the low dollars paid out in unemployment benefits? From the economic perspective, to hold out would be financial suicide....

[Mr. Big Dog 10,747]

If one is unemployed, they probably need a job unless they happen to be independently wealthy.

Not necessarily. There maybe households where one spouse gives up looking for a job - take the kids out of daycare and care for them at home if the only job that spouse would be able to find don't pay what the daycare expenses would be or insignificantly more. As the job market improves, the second spouse might be back out there looking for a job where it makes economic sense to work and pay for the daycare. Just one out of many conceivable scenarios that doesn't require a person to give up looking for work because the person is independently wealthy.

[justashooter 430]

However a guy that just runs out of benefits IS unemployed.

i'm sure you already know that he is removed from the rolls of the "officially unemployed" the day his benefits run out, and are just being sarcastic.

[William33 110]

Not necessarily. There maybe households where one spouse gives up looking for a job - take the kids out of daycare and care for them at home if the only job that spouse would be able to find don't pay what the daycare expenses would be or insignificantly more. As the job market improves, the second spouse might be back out there looking for a job where it makes economic sense to work and pay for the daycare. Just one out of many conceivable scenarios that doesn't require a person to give up looking for work because the person is independently wealthy.

One conceivable scenario agreed. Also one that does not apply in my case, given that my wife is a "stay at home mom". The value added to our daughter is insurmountable as compared to day care. She gets daily English based comprehensive education, along with Indonesian language skills. I wouldn't trade that for anything. At the end of the day, this is a more complex topic than I originally realized.

Cheers.

[I AM NOT THAT GUY 5,715]

The market didn't buy it. I saw all the sycophants singing the praises of the "job recovery", but somehow, this week, all the "gains" the administration were lauding, went away in a puff of smoke.

[Mr. Big Dog 10,747]

One conceivable scenario agreed. Also one that does not apply in my case, given that my wife is a "stay at home mom". The value added to our daughter is insurmountable as compared to day care. She gets daily English based comprehensive education, along with Indonesian language skills. I wouldn't trade that for anything. At the end of the day, this is a more complex topic than I originally realized.

Cheers.

Same here. Nani stays home with our daughter. We tried the daycare for a few months last year and surely weren't impressed.

The market didn't buy it. I saw all the sycophants singing the praises of the "job recovery", but somehow, this week, all the "gains" the administration were lauding, went away in a puff of smoke.

The market looks at more than job creation. A correction is due - the stock markets recovered way too much, way too quickly for my comfort.

Edited May 8, 2010 by Mr. Big Dog

[I AM NOT THAT GUY 5,715]

The market looks at more than job creation. A correction is due - the stock markets recovered way too much, way too quickly for my comfort.

I agree, somewhat, although wiping out all gains made so far this year is overkill. If the market continues to slide next week below 10,000, then we are not heading for a correction, but rather another recession. Bad news for a lot of folks that are banking on this summer to get them through next winter.

But, if things level off, and begin a gradual ascent over the next couple weeks, then the prospects look a little rosier. No glasses needed.