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Economic News, Data and Analysis

The Employment Situation

The employment situation remains poor. Data released by the Bureau of Labor Statistics shows that the unemployment rate for March remains unchanged at 5.8%, and, in addition, total nonfarm payroll employment declined by 108,000 after seasonal adjustment.
Overall, these numbers again point to the idea that the economy is in somewhat of a holding pattern. Overall growth appears to be weak, leading to the decline in employment, yet the unemployment rate has been holding steady at just under 6% for the past year (see graphs below).
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Employment Situation
Total nonfarm payroll employment declined by 108,000 in March, while the unemployment rate was unchanged at 5.8 percent, the Bureau of Labor Statistics of the U.S. Department of Labor reported today. Employment continued to decline in manufacturing, retail trade, and transportation. Government employment also was down over the month.

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Filed under: Data, Economy, Recession

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