Friday, April 2, 2010

Biggest Job Bump in Three Years -- But Unemployment Remains the Same

The economy added 162,000 jobs in March -- falling just short of the 190,000 jobs that economists predicted. This is the largest one-month bump in jobs in three years. Nonetheless, the unemployment rate remains the same (9.7%).

48,000 of the new jobs were temporary government positions with the Census Bureau. Nevertheless, the private sector added 123,000 new jobs.


RealityZone said...

Problem----That is not keeping pace with the amount of new people entering the job market.
The funds provided in the jobs bill is a disgrace.

Josh Dowlut said...

About 100,000 new people enter the workforce each month so 100k is the break even/tread water figure that would hold the unemployment rate steady, actually reducing it takes a net over 100k/mo. The best job creation years this country ever had were the Clinton years and even they only averaged 242k/mo. At that rate it would take 5 years to get back to a pre-recession level of unemployment.

RealityZone said...

A lot of the old jobs are not coming back ever. Either through out sourcing or robotics. Many will not be needed in a new era of Technology. Any one that opens a pencil factory will have many eligible prospects. Not so for an engineering company. At least not American born and educated engineers. We are not, and have not been preparing our youth for the shift.

Darren Lenard Hutchinson said...

RZ and Josh - you are both making excellent points. The article says that the government's own studies anticipate "normal" unemployment rates to return in 2016. The recession was quite deep.

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