March Employment Situation Report Shows Growth In Private Sector; Overall 216,000 New Jobs Added
The March Employment Situation Report released by the Bureau of Labor Statistics reported that 216,000 new jobs were added and the national unemployment rate fell to two-year low of 8.8 percent although 14,000 government jobs were slashed, mostly in local
MINNEAPOLIS (April 1, 2011) – The March Employment Situation Report released today by the U.S. Bureau of Labor Statistics stated that nonfarm payroll increased by 216,000 during the month, and much of that gain was experienced in the private sector. This brings the national unemployment rate to a two-year low of 8.8 percent.
Many of the new jobs created in March were in business fields including 17,000 new jobs in durable goods manufacturing, 18,000 jobs in retail trade, 36,000 jobs added in employment services, and 20,000 jobs in accounting and bookkeeping. Technology jobs continue to increase; 6,400 new jobs were added in computer systems design. In addition, the healthcare industry, which continues to grow healthily, added 37,000 new jobs in March.
“While employment news is looking up for many Americans,” said Tamryn Hennessy, National Director of Career Development at Rasmussen College, a career-focused college offering degrees online and on campus. “The prospects for government workers may not be as promising, particularly in local government. Employment decreased by 14,000 for government jobs.”
According to the Bureau of Labor Statistics, government employment has been trending down since the economic peak in September 2008. More than 400,000 jobs have been lost in local government alone since 2008.
Although the unemployment rate continues to decrease, there is still a disparity in employment based on education level.
“The last quarter has been promising for people with college degrees,” Hennessy said. “Unemployment for people with Associate’s degrees or some college experience dropped half a percent over the past three months, and it dropped from 4.8 percent to 4.4 percent for those with Bachelor’s degrees or higher. The unemployment rate for those with only a high school diploma is 9.5 percent, and our prediction is that unemployment will continue to be a concern for those without college credentials.”
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