March Unemployment Falls Slightly to 8.2%; 120K Jobs Added
Matt | On 06, Apr 2012
It’s taking a long while, but unemployment is slowing improving in the U.S.
During March, 120,000 jobs were added to the mix. A year ago, the unemployment rate stood at 8.9 percent.
Observers are noting that this isn’t the strongest jobs report that could have hit President Obama’s desk. But, it isn’t horrible. I’m sure the Administration (and the Obama campaign) would have loved to see the unemployment rate get below the arbitrary 8.0 percent mark. People always need some benchmark to believe that improvement is happening.
Here are some quick facts to note about the latest round of labor data:
- Blacks held a 14.0 percent unemployment rate.
- Teenagers held a 25.0 percent unemployment rate. (Note that many were still in school when the data was gathered).
- The unemployment among Whites stood at 7.3 percent. It was at 10.3 percent for Latinos.
This shows that the subgroup data within the larger numbers are just as important. Also, remember that the unemployment rate is a calculation only of those who are actually looking for work. The rate does not include people who have dropped out of the workforce.
We still have a long way to go to complete economic recovery, but this is somewhat encouraging.
ANSWER IN THE COMMENTS SECTION BELOW:
Are you encouraged by the latest unemployment figures?
Or, do you need to see more improvement before you’re convinced of a recovery?