Fail. Unemployment Rate Remains at 9.7% in March
The unemployment rate remained unchanged in March at 9.7%.
Hat Tip BB
While democrats focused on ramming their nationalized health care plan through Congress last month the economy continued to suffer.
The AP reported:
The nation’s economy posted its largest job gain in three years in March, while the unemployment rate remained at 9.7 percent for the third straight month.
The increase in payrolls is the latest sign that the economic recovery is gaining momentum and healing in the job market is beginning. Still, the healing is likely to be slow, and most economists don’t expect new hiring to be fast enough this year to rapidly reduce the unemployment rate.
The Labor Department said employers added 162,000 jobs in March, the most since the recession began but below analysts’ expectations of 190,000. The total includes 48,000 temporary workers hired for the U.S. Census, also fewer than many economists forecast.
Private employers added 123,000 jobs, the most since May 2007.
Zero Hedge says the actual number for March was -67,000.