Low Unemployment Rate, But Low Job Numbers

Low UnemploymentRate, But Low Job Numbers

U.S. jobs grew by only 88,000 in March, less than half of recent monthly job increases, yet the unemployment rate was the lowest in four years, 7.6 percent. How come? People stopped looking, went back to school, or were otherwise no longer counted as unemployed. Was job growth a victim of austerity anticipation? Opinions differ.

More:

“The Employment Situation — March 2013,” Bureau of Labor Statistics press release

“Dim labor report shows US employers added just 88,000 jobs in March, fewest in 9 months,” AP via Washington Post

“March Jobs: Slow As You Go,” Ed Kilgore, Washington Monthly blog

“Blame austerity economics for our depressing new jobs report,” Robert Reich, Salon

“Austerity Is Not to Blame for Tepid Job Growth,” Investors Business Daily editorial

“Federal Austerity’s Bite on Job Growth,” Binyamin Appelbaum, New York Times blog

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Short Link: http://wp.me/p6sb6-grO

Image (based on a WPA photo by John E. Allen) by Mike Licht. Download a copy here. Creative Commons license; credit Mike Licht, NotionsCapital.com

Comments are welcome if they are on-topic, substantive, concise, and not boring or obscene. Comments may be edited for clarity and length

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