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April 01, 2011

March Unemployment Rate - Part Timers Rule!!

BLS released the March unemployment rate data this morning. Another delicate decline of 0.1% - we're now at 8.8% for the U-3 data (U-6 is down to 15.7%). Most of the numbers didn't change much from last month. One bright note: the Household survey data tells us that we added 291,000 jobs last month!! But here's the dampener: 290,000 of them were part-time jobs.

Here is The Chart. What is striking to me (as I mentioned last month) is how the data is following the shape of the "no recovery plan" curve. It's almost like the job market is following its own natural recovery trajectory, regardless of the stimulus money spent in such a pointless and profligate fashion. Naw - couldn't be.

Stimulus-vs-unemployment-March-2011Small.gif



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posted by Geoff at 10:25 AM

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