Skip to comments.Unemployment rate falls to 8.8 pct, two-year low
Posted on 04/01/2011 7:45:56 AM PDT by RS_Rider
WASHINGTON The unemployment rate fell to a two-year low of 8.8 percent in March and companies added workers at the fastest two-month pace since before the recession began.
The Labor Department reported Friday that the economy added 216,000 new jobs last month, offsetting layoffs by local governments. Factories, retailers, education, health care and an array of professional and financial services expanded payrolls.
The second straight month of brisk hiring is the latest sign that the economy is strengthening nearly two years after the recession ended.
Private employers, the backbone of the economy, drove nearly all of the gains. They added 230,000 jobs last month, on top of 240,000 in February. It was the first time private-sector hiring topped 200,000 in back-to-back months since 2006 more than a year before the recession started.
The unemployment rate dipped from 8.9 percent in February to 8.8 percent in March. The rate has fallen a full percentage point over the last four months, the sharpest drop since 1983.
"The U.S. labor market is finally making some serious progress. No fooling," said Sal Guatieri, economist at BMO Capital Markets Economics.
(Excerpt) Read more at news.yahoo.com ...
But no one is actually returning to the work force, and people are expending the end of their unemployment, dropping out of the employment ranks.
Redefine “Unemployed” and declare victory?
How do these clowns get away with this?
I saw in another story that underemployment, at the same time, reached an all time high. My guess is companies are hiring part-time and people are forced to take the work as their unemplyment expires.
You can guarantee that they will fudge the number enough to put it below 8% by election time. The question is will the unemployed people buy it.
Do you have a link? Like to see that.
They’re not even revising last month’s numbers up any more and we’re on a steady unemployment rate decline.
Everything is almost fixed!
Unemployment benefits are running out. Once a person stops registering for benefits, they stop getting counted. They're still without a job, but they don't count any more. When a democrat is in charge, there are no homeless people - or so they want us to believe.
“Redefine Unemployed and declare victory?”
Waiting for some Pubbie to point out and question the reason for the delta...
Sorry, I don’t recall where I read it. It was in one of the stories about the unemployment rate and I think it was a MSM source.
Now you have to bring race into it?
Can you say "Bell Curve"? I knew you could...
The more people fall off the end, the better the statistics look.
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