Friday, April 1, 2011
The Department of Labor's March employment figures are now in. The highlights include 216,000 jobs added last month, with the unemployment rate down to 8.8% (from 8.9% the previous month). Overall, this slightly beat expectations and appears to be viewed as good, but not great, news. In does, however, represent another month of growing private-sector employment (now at 13 months in a row), albeit relatively modest growth. But, there are still a lot of long-term unemployed, low labor participation rate, and unchanged number of hours worked. On the other hand, unemployment claims have been dropping. In short, things are looking a bit better and continues to give hope for a future recovery, but we're still not there yet.