Jobless Numbers Largely Unchanged from Last Month
By Lauren Bayne Anderson
April 08, 2011
APRIL 2011— The nation’s unemployment rate was largely unchanged from February’s 8.9% , reported in March. And, new applications for unemployment benefits fell by 10,000 in the last week of March to 382,000, the U.S. Labor Department reported.
However, a story in the Huffington Post this week calls attention to the “real unemployment rate”, which includes people who have been on unemployment for 99 weeks or more, and those who are “under-employed”, meaning they can only find part-time work.
The story indicates that sluggish job creation is doing little more than keeping up with demands from new entrants to the workforce. “The U.S. needs to create about 125,000 jobs a month to simply keep up with new entrants to the workforce. If you subtract 125,000 from 216,000 jobs created in March, you end up with 91,000 “extra” jobs for 13.5 million unemployed,”
According to Labor Department, 45.5% of the unemployed were out of work for 27 weeks or more, a record high. The long term unemployment rate is increasing with no signs of abating.
Where AREN’T the jobs?
The highest insured unemployment rates in the week ending March 19 were in: Alaska (6.5 percent), Puerto Rico (4.9), Idaho (4.7), Oregon (4.7), Rhode Island (4.7), Pennsylvania (4.6), Wisconsin (4.6), Montana (4.5), Connecticut (4.4), New Jersey (4.4), and California (4.3).
The largest increases in initial claims for the week ending March 26 were in: Texas (3,580), Oregon (2,785), New Jersey (873)
The largest decreases were in: North Carolina (-3,137), Massachusetts (-2,251), Florida (-1,151), Georgia (-1,141), and Oklahoma (-689).
Information compiled from The Huffington Post and the Department of Labor.