Welcome to DU!
The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards.
Join the community:
Create a free account
Support DU (and get rid of ads!):
Become a Star Member
Latest Breaking News
General Discussion
The DU Lounge
All Forums
Issue Forums
Culture Forums
Alliance Forums
Region Forums
Support Forums
Help & Search
Economy Added 88,000 Jobs In March, Unemployment Rate Drops To 7.6 Percent (updated)
Last edited Fri Apr 5, 2013, 09:10 AM - Edit history (1)
Economy Added 88,000 Jobs In March, Unemployment Rate Drops To 7.6 Percent
By Travis Waldron
According to the latest data from the Bureau of Labor Statistics, 88,000 jobs were created last month, and the unemployment rate ticked down to 7.6 percent largely because the participation rate dropped. Analysts had expected 190,000 jobs.
The private sector added 95,000 jobs, while the public sector contracted again, losing another 7,000 jobs.
The February job numbers were revised from 236,000 to 268,000, while January’s numbers were revised from 119,000 to 148,000.
http://thinkprogress.org/economy/2013/04/05/1826321/economy-added-88000-jobs-in-march-unemployment-rate-drops-to-76-percent/
By Travis Waldron
According to the latest data from the Bureau of Labor Statistics, 88,000 jobs were created last month, and the unemployment rate ticked down to 7.6 percent largely because the participation rate dropped. Analysts had expected 190,000 jobs.
The private sector added 95,000 jobs, while the public sector contracted again, losing another 7,000 jobs.
The February job numbers were revised from 236,000 to 268,000, while January’s numbers were revised from 119,000 to 148,000.
http://thinkprogress.org/economy/2013/04/05/1826321/economy-added-88000-jobs-in-march-unemployment-rate-drops-to-76-percent/
Updated to add:
Job totals stumble to 10-month low
By Steve Benen
Expectations going into this morning pointed to job growth of about 190,000 jobs. The actual total wasn't close.
The Bureau of Labor Statistics reported this morning that the U.S. economy created just 88,000 jobs in March, the worst in the last 10 months. As is usually the case, there was a gap between the two major sectors -- America's private sector added 95,000 jobs last month, the public sector lost 7,000 jobs, though most of those totals were driven by Post Office layoffs.
The news is awful, but there was a silver lining: totals from January were revised up to 148,000 jobs (from 119,000), while February was revised up to 268,000 (from +236,000). The additional 61,000 jobs helped push the unemployment rate to 7.6%, its lowest point since December 2008.
But these encouraging tidbits are cold comfort, and can't sugarcoat a deeply disappointing jobs report. The obvious question, of course, is whether (and to what extent) deep and arbitrary sequestration spending cuts caused this reversal of fortunes. At first blush, the circumstantial evidence certainly makes congressional Republicans look ridiculous -- the job market was improving, then the GOP refused to compromise and imposed massive reductions in public investment despite Congressional Budget Office warnings that it would hurt hiring, then the GOP celebrated, then the steady progress in the job market stopped.
That said, it's hard to say with certainty that the sequester caused job trouble in March. We can say with certainty, however, that with the job market running into trouble, the very last thing Americans need right now are more deep spending cuts.
- more -
http://maddowblog.msnbc.com/_news/2013/04/05/17615523-job-totals-stumble-to-10-month-low
By Steve Benen
Expectations going into this morning pointed to job growth of about 190,000 jobs. The actual total wasn't close.
The Bureau of Labor Statistics reported this morning that the U.S. economy created just 88,000 jobs in March, the worst in the last 10 months. As is usually the case, there was a gap between the two major sectors -- America's private sector added 95,000 jobs last month, the public sector lost 7,000 jobs, though most of those totals were driven by Post Office layoffs.
The news is awful, but there was a silver lining: totals from January were revised up to 148,000 jobs (from 119,000), while February was revised up to 268,000 (from +236,000). The additional 61,000 jobs helped push the unemployment rate to 7.6%, its lowest point since December 2008.
But these encouraging tidbits are cold comfort, and can't sugarcoat a deeply disappointing jobs report. The obvious question, of course, is whether (and to what extent) deep and arbitrary sequestration spending cuts caused this reversal of fortunes. At first blush, the circumstantial evidence certainly makes congressional Republicans look ridiculous -- the job market was improving, then the GOP refused to compromise and imposed massive reductions in public investment despite Congressional Budget Office warnings that it would hurt hiring, then the GOP celebrated, then the steady progress in the job market stopped.
That said, it's hard to say with certainty that the sequester caused job trouble in March. We can say with certainty, however, that with the job market running into trouble, the very last thing Americans need right now are more deep spending cuts.
- more -
http://maddowblog.msnbc.com/_news/2013/04/05/17615523-job-totals-stumble-to-10-month-low
16 replies
= new reply since forum marked as read
= new reply since forum marked as read
