216,000 Jobs Added In March, Unemployment Rate Falls to 8.8%

Job growth accelerated faster than expected in March, as payrolls increased 216,000, higher than the 192,000-job gain expected by economists.

The unemployment rate fell to 8.8% in March, vs. the expectation for the rate to increase slightly to 9.0%.

That is the lowest unemployment rate reported by the Department of Labor since March of 2009.

Average hourly earnings and the average workweek were unchanged at $22.87, and 34.4 hours, respectively.

Category:

News & Politics

Tags:

• unemployment
• jobless
• worker
• labor department
• employee
• jobs
• payroll
• economy
• growth
• earnings
• salary
• work

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Now April 2011 the unemployment rate is 8.8% with 13.5 million unemployed. (13.5 million/8.8%)=153,409,090 in the work force. Between March 2011 & April 2011 523,493 are no longer looking for work (154,081,632-153,409,090). This means the 216,000 jobs created is actually a net loss of (523,493-216,000)=307,493.

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In November 2011 there was 15.1 million unemployed with 9.8% in November 2012. The total pool of unemployed was (15.1 million/9.8%)=154,081,632

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The unemployment rate February 2011 was 8.9% with 13.7 million unemployed totaling 153,932,584 in the available to work pool.

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Between November 2010 & March 2011, 149,048 are no longer in looking for work (154,081,632-153,932,584).