April Jobs Report: What More Bad News Could Mean For You

jobs report Friday BLSThe April jobs report due this Friday could be one of the more significant pieces of economic data released so far this year. Solid numbers could revive optimism for a strong recovery in 2012. More bad news could have a devastating domino effect across the economic landscape.

Also due next week are monthly sales figures from U.S. automakers and retailers, and more quarterly earnings reports.

A month ago, the March labor report was a big disappointment. The data showed that just 120,000 jobs were created, well below expectations and an indication that the labor market recovery believed to be gaining steam earlier this year was not nearly as strong as earlier hoped.

The unemployment rate held steady at 8.2 percent, primarily because thousands of Americans have stopped looking for work and are no longer counted by the government as unemployed.

Another disappointing jobs report would undoubtedly have a detrimental effect on consumer sentiment and ultimately consumer spending, both of which would create an adverse effect on the economy. Consumer spending accounts for about 70 percent of the economy, after all.

U.S. carmakers release their April sales figures on Tuesday and the numbers are expected to be strong, continuing a trend started earlier this year. A spike in gasoline prices has steered consumers toward smaller, more fuel efficient cars, a dynamic reflected in the March car sales figures. That trend is expected to have carried over into April.

Car research firm Edmonds.com has forecast that new U.S. auto sales will rise 2.1 percent in April compared with a year ago.

The big U.S. retailers will release April sales data on Thursday. Analysts believe the numbers could be impacted negatively by the fact that Easter fell two weeks earlier this year than in 2011. The nation's biggest retailer, Walmart, is struggling through a scandal tied to allegations that the company paid bribes to Mexican officials, but the mess isn't expected to affect sales at the retail level. Target and Costco are expected to report strong sales.

Earnings reports are due from pharmaceutical giant Pfizer and credit-card companies Visa and MasterCard. Media giant CBS Corp. and cable providers Cablevision Systems and Time Warner are also scheduled to report their earnings.

Japan's Prime Minister Yoshihiko Noda will visit the U.S. Monday through Wednesday for summit talks with President Barack Obama. Experts say the U.S. and Japan aren't likely to announce any significant breakthroughs on trade agreements.

Meanwhile, U.S. Secretary Tim Geithner and Secretary of State Hillary Clinton are scheduled to meet with Chinese Vice Premier Wang Qishan and State Councilor Dai Bingguo on Thursday and Friday for the U.S.-China Strategic and Economic Dialogue in Beijing.

Don't Miss: Companies Hiring Now

Looking for a job? Click here to get started.

Week Ahead: US Jobs Report, Global PMI Data in Focus

Add a Comment

*0 / 3000 Character Maximum


Filter by:

Who ever votes for that moron either works for the Gov or is on Welfare. If the a-hole wins I will fly the flag upsidedown because Its over

April 30 2012 at 7:44 PM Report abuse rate up rate down Reply

I just saw a vidio from obama that said that jobs are being added at a high rate and that everything is getting better. Who do we believe? Is obama lying (again) to get votes? I don't think the people without jobs will vote for him again.

April 30 2012 at 4:40 PM Report abuse rate up rate down Reply
1 reply to rm42749's comment

rm42749---I'm not sure the people WITH jobs are going to vote for him. The last several "jobs reports" in reality were grim at best although Obama manipulated that report to say, jobs have been increasing in great numbers. You ask, who do you believe??? My answer to that question would be, I wouldn't believe Obama if his tongue came notorized because of his broken promises, "mis-speaks" and past lies of Jobs, housing, economy and his lies about being the most "transparent" administration, but yet passing healthcare behind closed doors and keeping it secret from the American taxpayer's as to its "REAL" cost.He seems to have plenty of time for daily news media coverage, golf trips and vacationsw but after three years cannot find the time to pass a budget. It would be helpful if after three years he pass a budget so we know what to expect. I never thought there would ever be a president that makes Jimmy Carter apear to walk on water. Evict the Obama's from the white house in 2012

April 30 2012 at 5:25 PM Report abuse rate up rate down Reply

I just bought jars of pickles from India , jars of red peppers from China and jars of olives from Egypt.
We no longer manufacture anything , grow anything and invent very little.
What will Romney have us doing ? Oh I know.......a new reality show where 26 year olds fight to the death with 62 year olds for the right to work at Family Dollar. Hope Katniss has time to teach me archery!

April 30 2012 at 4:24 PM Report abuse rate up rate down Reply

This is typical False (Fox) news. They always scare and lie about everything. They must be working to see that America fails like all repubs do. I am sure wherever they can they will be working to see the jobs report is bad. I know that Karl Rove is a big DEVIL who would not mind stooping to doing anything even illegal to have his way.

April 30 2012 at 1:58 PM Report abuse -2 rate up rate down Reply
1 reply to jroycrs's comment

What's false?

April 30 2012 at 4:10 PM Report abuse +2 rate up rate down Reply

It matters not one whit what the jobs report figures say. It is all lies. The figures are being manipulated to reflect a better situation that actually exists. The basic fact is that 250,000 people a month are dropping off the unemployment rools because their benefits ran out. Since they are then officially off the unemployment lists the list is reported as a fewer number of people being unemployed, which is a lie. Fewer new jobs are being created. In order to slow unemployment, 350,000 new jobs a month need to be created. And that won't happen any time soon.

April 30 2012 at 1:42 PM Report abuse +5 rate up rate down Reply
1 reply to dickn2000b's comment

And they failed to mention the underemployed.

April 30 2012 at 5:20 PM Report abuse rate up rate down Reply

well i think we need to let Japan go to hell we dont need any thing from we can do just fine with out them they can go to hell and as far as Hillary Clinton she is a trader i would never bow down to any slant eyes we dont need to feed them or any one eles we need to stop with the aid over seas the gov needs to say we will not help them any more and we will not sent our troops over there to help them we need to keep are noises out of there there is no one has the balls to say so no aid to them tell every one that was not born here to get the hell out dont come back and stay out

April 30 2012 at 1:36 PM Report abuse -1 rate up rate down Reply

Tax Season is over all those Tax prep jobs are gone in April......

April 30 2012 at 1:10 PM Report abuse +2 rate up rate down Reply

The New Super Heros movie opens!!!

April 30 2012 at 12:42 PM Report abuse -3 rate up rate down Reply

We all know that the jobless percentage is not real. Millions of people are not counted because the quit looking for work. The same goes for the inflation index. Food gasoline and other items used daily are not included in the inflation index. So much for our transparent government. Hide all the bad news by changing the way to reports are calculated. Do you people think we are all stupid?

April 30 2012 at 12:42 PM Report abuse +7 rate up rate down Reply

Search Articles

Picks From the Web