Jobless rate hits 8.5%

More bad news, though not unexpected. Here are the numbers from the Bureau of Labor Statisticss.


Figure from Center for Budget and Policy Priorities.

From EPI:

The March 2009 employment situation report, released this morning by the Bureau of Labor Statistics, showed that the labor market continued its free fall in March. Unemployment increased sharply to 8.5%, its highest level since 1983, and payroll employment declined by 663,000 jobs, an average of over 30,000 jobs lost every work day in March. This was the third steepest decline in fifteen straight months of job losses. Since the start of the recession in December 2007, the economy has shed 5.1 million jobs, including 2.7 million jobs lost in the last four months alone. “This morning’s employment report offered no hint of light at the end of the tunnel. Instead, it showed that the labor market is still in its darkest months,” said economist Heidi Shierholz.

For more information and commentary check out the Center of Budget and Policy Priorities.

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Errington C. Thompson, MD

Dr. Thompson is a surgeon, scholar, full-time sports fan and part-time political activist. He is active in a number of community projects and initiatives. Through medicine, he strives to improve the physical health of all he treats.

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