Economy losses 663,000 jobs in March 2009 and 5.1 million since recession began; unemployment reaches 8.5%.
The unemployment rate increased from 8.1% to 8.5% in March and 663,000 jobs were lost, according to the latest data from the Bureau of Labor Statistics. Since the recession began in December of 2007, 5.1 million jobs have been lost (a loss of 3.7%), 3.3 million of which in the last five months. Black unemployment remained essentially level (decreasing slightly from 13.4% to 13.3%), but this is a largely due to a decrease in the black labor force participation rate (indicating more people have stopped looking for work and therefore not counted). White unemployment increased to 7.9% and Latinos saw their unemployment rate reach 11.4%. Men continued to be hard hit; the overall adult male unemployment rate increased from 8.1% to 8.8%, and black males saw their rate increase to 15.4%. The number of people working part-time for economic reasons increased another 423,000 to 9 million, and total underemployment, which includes marginally attached workers and those working part-time for economic reasons, reached 15.6% (the highest since they began tracking this in 1994).
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| 2009_MarchEmploymentReport.pdf | 131.12 KB |
