Friday, April 2, 2010

162,000 new jobs added, unemployment rate still at 9.7%

A start, but we need millions of new jobs created with the millions out of work. Remember, Secretary Treasurer Timothy Geithner said it will take a long time before the unemployment rate goes down. Also, a great insight and read on this from The Bonddad Blog.

After more than two years in which more than 8 million jobs were lost, the country’s nonfarm payrolls surged in March.

Employers added 162,000 jobs last month, and employment numbers in the previous two months were revised upward. Nationwide, the unemployment rate held steady at 9.7 percent.

To many ordinary, out-of-work Americans, the recovery may finally start to feel real.

“The key message from this report is that we’ve finally turned the corner,” said Nigel Gault, chief United States economist at IHS Global Insight. “Going forward, we should expect things to strengthen further over the rest of the year.”


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