Colbert: Welcome. Last month big leap in new job, some 300, 000 plus, is a huge increase over what the country has seen in the past 6 months when the average growth has been just 75, 000 new jobs a month. For a closer look at what's happening, we turn to Lisa Lynch, an economics professor at Tofts University. Lisa Lynch, when you look at these numbers, do you think job creation is on the rise?
Lisa Lynch: It certainly is. It was a great report. It indicates that the job market, broadly speaking, has turned the corner after 3 very long, lean years. I think we are going to see improvement. It's not only the March gain. It was gain in January and February. They were both revised higher, and moreover, the job gains were very broadly-based across many industries. It was a very positive report.
Colbert: What do you see in the numbers? Who's getting the new jobs?
Lisa Lynch: As I mentioned, when we looked at the numbers, 'we are seeing employment across the board in all sectors, with one important exception, and that's in manufacturing. Well, we do not have any job loss in manufacturing sector for the first time in 44 months. We did not see pick up in the manufacturing sector, but we saw restaurant and hotel workers being added on. We saw workers in supermarket being added on. Part of that reflects the settlement of the grocery stores strike out California. We saw workers in the health care sector and hospitals being added on. We saw business services adding employees. So in general, with the very important exception of manufacturing, we are seeing job growth across all of these different types of occupations.
Colbert interviews Lisa Lynch about her opinion on the big leap in new jobs created last month. Lisa says the report is positive because it shows the job market's improvement after three lean years. All industries including catering, health care, and services experience positive growth, except for manufacturing which has neither job loss nor picking up.