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Blockbuster March jobs report, but still a long way to go

Blockbuster March jobs report, but still a long way to go

 HEADLINES:

  • +916,000 million jobs added. The alternate, and more volatile measure in the household report indicated a gain of 609,000 jobs, which factors into the unemployment and underemployment rates below.
  • U3 unemployment rate declined 0.2% to 6.0%, compared with the January 2020 low of 3.5%, and the April 2020 high of 14.8%.
  • U6 underemployment rate declined 0.4 to 10.7%, compared with the January 2020 low of 6.9%, and the April 2020 high of 22.9%
  • Those on temporary layoff decreased -203,000 to 2,026,000.
  • Permanent job losers decreased -65,000 to 3,432,000.
  • January was revised upward by 67,000, and February was also revised upward by 89,000, for a net gain of 156,000 jobs compared with previous reports.