The nation’s economy added just 88,000 new jobs in March while the jobless rate dipped to 7.6% from February’s 7.7%, according to figures released this morning by the U.S. Bureau of Labor Statistics (BLS).
While the 88,000 jobs created reflect 36 straight months of positive job growth, during the previous 12 months job growth had averaged about 169,000 a month. The small number of new jobs also shows how important it is that Congress repeals the sequester to stop any additional job loss in the public and private sectors. These across-the-board cuts will cost more than 750,000 jobs this year alone and could derail the economic recovery.
The nation’s economy added 155,000 new jobs in December and the jobless rate was unchanged from November’s adjusted 7.8%, according to figures released this morning by the U.S. Bureau of Labor Statistics (BLS). The 155,000 jobs created reflect 34 straight months of positive job growth.
The economy added 171,000 new jobs in October—the 32nd straight month of positive job growth—according to figures released this morning by the U.S. Bureau of Labor Statistics (BLS). The nation’s unemployment rate was essentially unchanged at 7.9%, up slightly from September’s 7.8%. The labor force grew by more than half a million workers in October, which is a positive sign, as more workers are seeking and finding jobs. The number of discouraged and involuntary part-time workers has fallen since last year.
The newly created jobs exceeded most economists’ predictions of 100,000 to 125,000 new jobs for the month. Also, September payrolls were revised to a gain of 148,000 from an initially reported 114,000, and August to 192,000 from 142,000.
The U.S. economy added 120,000 jobs last month and the unemployment rate dipped slightly to 8.2 percent, according to the Labor Department report released this morning. Economists had predicted stronger job growth, in line with recent months when 200,000 or more jobs were created.
Just in time for April 15, new data shows that since 1979, the nation’s overall average tax rate—the share of income paid in taxes—has fallen slightly, but for those at the top of the earnings ladder, this share has fallen dramatically. The analysis by the Economic Policy Institute (EPI) also points out:
At the same time that the tax burden has shifted away from the wealthy, this same top income group has enjoyed massively disproportionate income gains. Between 1992 and 2007, a time in which income for the average household and top one percent grew 13 percent and 123 percent, respectively, the income for the top 400 households grew fully 399 percent.