MEDIA RELEASE: National Job Losses Mount in March
Analyst: latest report offers no signs of progress
RALEIGH (April 3, 2009) -- National employment numbers released this morning show that the collapse of the national labor market continued in March. The American economy shed another 663,000 jobs, and the monthly unemployment rate rose from 8.1 to 8.5 percent.
While the numbers are in line with forecasts, they nevertheless are grim and offer little evidence that the recession will end anytime soon.
"The national labor market continued to collapse in March," said John Quinterno, a researcher with the North Carolina Justice Center's Budget & Tax Center. "For the 15th consecutive month, employers in virtually every major industry eliminated more jobs than they created. Job losses have triggered rising unemployment and underemployment. In March, not only was 8.5 percent of the labor force unemployed, but 15.6 percent was underemployed."