Just maybe we have reached a time when there will not be enough jobs.

Technology will continue to eliminate jobs, what will we do then?

January was revised from -655,000 to -741,000. I expect the numbers from March will follow a similar path...though hopefully not. See http://www.bls.gov/news.release/empsit.nr0.htm

Meant to also post this from the same link in the previous comment: http://www.bls.gov/news.release/empsit.nr0.htm

From the BLS:

In March, the average workweek for production and nonsupervisory workers on private nonfarm payrolls fell by 0.1 hour to 33.2 hours, seasonally adjusted--the lowest level on record for the series, which began in 1964.

Good times!

If you can't trust the editorial page, can you trust their reporting? I canceled my WSJ/Barron's sub for this reason. To an even greater extent, I wouldn't believe anything I read in Forbes. The partisan media, Republican/Pro-Business mantra pretty much dominates the airwaves. So how do you function?

Word.

This rally is just whistlin' past the graveyard. Employment is f'ed, meaning housing is f'ed, meaning banks and corporate profits are f'ed. Recovery in late 09 my ass. Anyone who claims unemployment will peak at 10% may as well tell me about their pet unicorn.

Beyond that, the labor picture is even worse than appears, since real wages continue the downward march.

I used to work for a business unit of media conglomerate in the UK, most famous for their nation newspaper which lambasts government and public sector as wasteful at every opportunity.

Working for that company gave me a new appreciation of just how hypocritical such organizations are and how wasteful the private sector is.

Between 1999 and 2001 they threw around $200m into acquiring businesses in South America, mostly in Argentina and Brazil. When the Argentine economy imploded and Brazil suffered a slow down, too, they exited most of the businesses at a huge loss (rumoured internally to be around 80-90%).

Meanwhile, we were still working on paper records through 2000, rather than computerized ones. When they did finally supply computers, they blew another $250,000 on developing an all encombassing programm that would be accounting, circulation, sales database and CRM. It was never finished and was abandoned at around 60% complete, due to out-of-control costs.

The louder they complain, the hollower they sound, to me.

As for the WSJ, they were so efficient that they had to be 'rescued' by Rupert Murdoch.

Expect it to be revised upwards towards 750k in the coming months. It has happened every prior month.

"Sorry Mr. Newmark, but the private sector's credibility is shot. It's just possible that we could use some different perspectives in government."

Do you have any private sector experience beyond blogging on the internet? Have you ever operated a business for profit? You can say what you will about Bush and his buddies but the fact is and always will be that anybody that has never put his own financial existence on the line to start a business, create jobs, generate economic growth, has very limited credibility among those that have. Government has never, in my 52 years, created wealth. It always consumes it.

The endless comparisons of Bush vs. Obama as stewards of the economy miss the point. The question is government vs. non-government. Less government has always been the most successful government. Even in today's "crisis" environment, most of the problems are government fallout, not private sector failures.

The Wall Street Journal has been a self important farce for decades. The only hope is they go broke and save trees.

It's easy to make one man a "scapegoat" for this situation we're in; however, I feel that's unfair as he inherited this nightmare from a long lineage of incompetent individuals before him.

We will definitely be in double-digit unemployment by the end of October so my advice to everyone who will listen is to "tighten your belts" and only spend on essential items. This entire system is broken and is beyond repair, like Humpty Dumpty. We're going to see more Ponzi schemes being unveiled and more people being indicted, going to jail, or blowing their brains out as the humiliation will be too great to bear. Those indicted will not be getting off easy or getting a lighter sentence, believe me. This is a time for accountability and responsibility which will last until 2024.

Keep watching for more fall out!