Job Report | There is more work to be done says the White House | Bernanke is Right

The Employment Situation in March | The White House

There is more work to be done, but today’s employment report provides further evidence that the economy is continuing to recover from the worst economic downturn since the Great Depression. It is critical that we continue to make smart investments that strengthen our economy and lay a foundation for long-term middle class job growth so we can continue to dig our way out of the deep hole that was caused by the severe recession that began at the end of 2007…

Source & Details @:

via The Employment Situation in March | The White House.

Bernanke Warning on Jobs Vindicated by March Payrolls Report – Bloomberg

Ben S. Bernanke warned last month that payroll gains might slow as companies adjust their labor needs for a period of moderate growth. Today’s Labor Department report may have proved the Federal Reserve chairman right.

Employers in the U.S. added 120,000 jobs in March, the fewest in five months. The unemployment rate fell to 8.2 percent from 8.3 percent the month before as people stopped looking for work. The March report followed the best six-month streak of job growth since 2006.

“Chairman Bernanke should be putting out the world’s biggest ‘I told you so,’” said Phillip Swagel, an economist at the University of Maryland and former assistant Treasury secretary in George W. Bush’s administration. “It must give the Fed some comfort that they continue to have this accommodative stance.”

Today’s report probably won’t trigger a decision to buy more assets when Fed policy makers next meet April 24-25, nor will it alter their commitment to keep the benchmark lending rate around zero until late 2014, said John Silvia, chief economist at Wells Fargo Securities LLC in Charlotte, North Carolina…

Source:

Read More @ Bernanke Warning on Jobs Vindicated by March Payrolls Report – Bloomberg.

FRB | Speech with Slideshow – Bernanke | Recent Developments in the Labor Market–March 26, 2012

My remarks today will focus on recent and prospective developments in the labor market.  We have seen some positive signs on the jobs front recently, including a pickup in monthly payroll gains and a notable decline in the unemployment rate.  That is good news.  At the same time, some key questions are unresolved.  For example, the better jobs numbers seem somewhat out of sync with the overall pace of economic expansion.  What explains this apparent discrepancy and what implications does it have for the future course of the labor market and the economy? …

.

.

Source:

Read More @ FRB: Speech with Slideshow–Bernanke, Recent Developments in the Labor Market–March 26, 2012.