March employment numbers in the U.S. finds continuing job losses, a higher unemployment
rate, and people working fewer hours.
The U.S. Labor Department released March employment numbers, reporting that 663,000 jobs
were lost in March, with unemployment jumping to 8.5 percent -- the highest level since 1983.
As has been the trend in recent months, every sector except healthcare and education lost jobs.
Job losses in March were broad based, with only education and health services adding jobs.
Manufacturing cut 161,000 jobs; construction lost 126,000 jobs; services cut 358,000 positions.
Even the government lost 5,000 jobs
It should be noted, that these job losses were expected -- as job creation follows a recovery...
and while there are signs the economy has possibly hit bottom, the job picture is still not
expected to improve until later this year.
Furthermore, the Labor Department released revised job loss numbers for January -- reporting job
losses of 741,000, the biggest decline since October 1949.
The last time the unemployment rate was as high as 8.5 percent was in November 1983, at a time
when unemployment was declining following the deep 1981- 82 recession that saw unemployment
peak at 11 percent.
Finally, the length of the workweek fell to 33.2 hours in March, the lowest on record.
|
Quintessential Career and Job Resources |
Other topical resources for job-seekers:
|
Quintessential Careers Badges |
