April 1, 2011
March Employment Data
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.
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The econonmy needs to make these jobs for a while before the recovery can be certain.
Posted by: Reserve Currency | Apr 1, 2011 11:13:06 PM