EPI: Positive job growth, but not enough to reduce unemployment rate

[ProSense]

Positive job growth, but not enough to reduce unemployment rate

by Heidi Shierholz with research assistance from Kathryn Edwards and Andrew Green

This morning’s release of the Bureau of Labor Statistics employment report showed 162,000 payroll jobs gained in March, the largest jump in three years. However, of these, 48,000 were directly created by the federal government to assist with the 2010 Decennial Census. Excluding Census hiring, state and local government shed 9,000 jobs, while the private sector added 123,000 jobs. Some of these gains were likely an upward correction to the winter-storm-dampened February payrolls, but the trend since January is positive, with the private sector adding an average of 65,500 jobs per month over the last two months. However, as nearly 400,000 workers entered or re-entered the labor market in March, the increase in payroll jobs was not enough to move the dial on unemployment, which held steady at 9.7%.

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[rfranklin]

1. Well, at least we are not going backwards as we did under Bush...

The situation does, however, require more drastic measures than we are seeing. Papering over the financial mess and revving the Too Big To Fail banks is just forestalling financial Armageddon.

[JuniperLea]

2. I heard this morning that the reason is...

People who fell off those counts are returning to the job market now that things have softened.

[Peacetrain]

3. apparently we are having the same thoughts and opining on the same thing

at the same time!! :)

[greencharlie]

4. It's coming...

look at the shape and pattern of enemployment trends. Huge economic booms under EVERY President since Nixon. Even Carter had a period of low unemployment. Reagan, HW Bush, Clinton, GW Bush...

This is a natural cycle and will dutifully reward us with low unemployment by 2012.