Job Growth Numbers for March 2010
The unemployment rate remained unchanged at 9.7% in March and 162,000 jobs were created. Despite the positive growth, this falls short of economists' predictions of 200,000 new jobs for the month. Other details in this month's jobs report show reason for caution, with 1 million discouraged workers and a record high of 6.5 million Americans reporting to have been unemployed for 27 weeks or longer. While the positive job growth is welcome news, jobs will have to be created at a rate of 750,000 jobs per month in order for President Obama to meet his goal of 3.7 million jobs by the end of 2010, a target that will be harder to reach if Congress continues to push job-killing legislation like cap and trade.