Got a job

The economy added 162,000 jobs in March, which is the most in three years, i.e., the most since before the recession or the financial crisis began.  Something to find a small measure of comfort in — small because the unemployment rate still stands at 9.7%.  But this is a start.

UPDATE, 5 APRIL 2010:  James Hamilton of Econbrowser thinks this is very, very good news, along with such other glimmers of light as the upward trend in manufacturing, as seen in the best reading of the Institute for Supply Management’s “PMI” indicator since 2004.  (What is PMI, you and I ask?  It is an acronym that no longer stands for anything in particular.  It used to stand for Purchasing Managers Index; now it combines multiple measures, including new orders, inventory levels, and labor-market conditions.)

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