The March Jobs report said there were 120,000 nonfarm jobs added in March, compared to economists’ expectations of 200,000 jobs and some 267,000, 275,000, and 240,000 added in December, January, and February, respectively. The report also said that the population of folks actively looking for work—the denominator in the headline unemployment rate—shrank by 161,000 to 63.8% American adults as yet more people gave up on our suppressed economy and stopped looking for work. This participation rate has fallen steadily for the last three years, from its nearby high of 65.8% in January 2009.
The long-term unemployed (jobless for 27 weeks and over) remained at 42.5% of the total unemployed.
Meanwhile, initial jobless claims increased by 13,000 to a seasonally adjusted 380,000 in the week ended April 7. This also is the largest jump in a year.
Keep in mind that one month does not make a trend.
But. Our economic recovery is in full bloom, all right.