So-so U.S. job growth in March

| Friday, April 2, 2010
| |

The nation added 162,000 payroll jobs in March, the Labor Department reported this morning.

That was the highest monthly job growth in three years, but the number of new jobs was less than anticipated.

And despite the bump-up in employment, there still are 8.2 million fewer jobs in the United States today than at the start of the Great Recession in December 2007. Economists say the nation needs to generate about 100,000 jobs each month just to keep up with new entrants into the labor market.

But some experts say they're encouraged by March's figures, noting that the Labor Department also made upward revisions in January and February employment numbers.

It will be interesting to see if Michigan, which has been losing jobs for a decade, will have turned the corner in March. The state will release March job figures on April 14.

2 comments:

Don Grimes said...

The numbers were very good. About as good as we can hope for. Almost all of the job growth was in the private sector, my fear, before the numbers were released, that any job growth would be temporary census hiring was misplaced. The economy is improving at about the best pace we can reasonably expect. A lot of people are still hurting, but they just need to hang in there, most of them will eventually see an improvement in their economic situation.

Rick Haglund said...

Good point about private-sector jobs, Don. That ADP report earlier in the week predicting a decline in private-sector payroll jobs turned out to be wrong.

Post a Comment