About That Fantastic Jobs Report … Full-time, Native Jobs Shrink, Part-time, Foreign-born Jobs Rise On Year-over-Year Basis, Virtually No Manufacturing Jobs Added But 71k Government Jobs Added (Black Unemployment Increases)

To quote the song “Sloop John B”, “Let me go home, I wanna go home. This is the worst trip I’ve ever been on.” The lyrics should change to “This is the worst ADMINISTRATION I’ve ever experienced.”

Like last month, today’s jobs report for March is better than Februrary’s miracle report, but has some glaring bad news that the Administration and slobbering media will ignore. Now you know why I no longer appear on CNBC, CNN or Fox Business anymore.

Let’s start with the good news! The BLS reported that in March, the US added a whopping 303K jobs, tied for the highest since Jan 2023!

Turning our attention to the unemployment rate, it unexpectedly dipped again, dropping to 3.8%, from 3.9%, in line with estimates, as the number of unemployed workers dipped modestly from 6.458 million to 6.429 million while the number of employed workers rose by almost half a million workers; the unemployment rate for Blacks (6.4 percent) increased in March to the highest level in almost two years, while the rates for Asians (2.5 percent) and Hispanics (4.5 percent) decreased. The jobless rates for adult men (3.3 percent), adult women (3.6 percent), teenagers (12.6 percent), and Whites (3.4 percent) showed little or no change over the month.

In contrast, the participation rate rose from 62.5% to 62.7%, above the 62.6% expected, as the overall civilian labor force increased slightly less than the number of employed people.

Now for the not-so-good news. The average hourly earnings came in as expected, rising 0.3% MoM, up from last month’s upward revised 0.2% sequential increase (revised from 0.1%), On an annual basis, the hourly earnings rose 4.1%, as expected, and down from 4.3%. This was the lowest print in almost three years: the last time wages rose by this much was the summer of 2021.

Now for the bad news.

For those wondering if the jobs were all part-time, the answer is a resounding yes: in March, full-time jobs dropped by 6,000 as Part-time jobs soared by 691,000.

On a year-over-year (YoY) basis, full-time jobs were down -1.0% while part-time jobs were up 7.1%

Native-born versus foreign born? On a YoY basis, native-born employment was down -0.5% while foreign-born employment increased by 4.2%.

Not only is Biden importing Democrat voters (since 70% of Americans HATE Biden’s policies), they are also displacing native-born Americans in the labor force.

Manufacturing jobs added were ZERO. So, much for all of Biden’s claims. But NON-PRODUCTIVE government jobs were up 71,000. So our manufacturing jobs are dead while non-productive government jobs are growing like crazy.

Under Biden, the Administrative state is growing faster than manufacturing since Feb 2023. The Biden Administration implements new rules to prevent Trump’s ability to purge deep state employees if re-elected in 2024.

How will The Fed respond? Likely will lead to limited rate cuts.

On related news, horse-faced John Kerry’s daughter says BILLIONS of Humans Must Die for the ‘New World Order’. This reminds me of China and Mao’s “Great Leap Forward” and the starvation of 45 million people.