Unemployment rates tumble for teens and Hispanics

Share

US job growth slowed sharply last month, falling to its lowest level in almost a year, according to government figures.

Employment in the USA rose by much less than anticipated in the month of March, according to a report released by the Labor Department on Friday, although the unemployment rate still fell to its lowest level in nearly ten years.

The economy appears to have slowed in the first three months of the year, though most economists expect a rebound in the current April-June quarter.

The highest unemployment rate in OH in February went to Monroe County which had 11.8 percent unemployment while Mercer County had the lowest, at 3.7 percent. That number seems small on the surface, but average hourly earnings have risen by 68 cents (a gain of 2.7%) from a year ago.

Overall, the jobs report showed the economy adding about 98,000 jobs during the month, and the unemployment rate dipping to 4.5 percent. More than 6,200 area residents returned to the job market since December, a growth rate of 1.9 percent, and almost 90 percent of them found jobs during that period. In March, 11,000 manufacturing jobs were created, whereas in February, 26,000 jobs were created.

While the report shows that the total number of unemployed Americans fell by over 300,000, there are still 7.2 million people out of work across the country.

Those gains helped Alberta's unemployment rate dip a bit lower to 8.4 per cent in March, the federal agency said Friday.

This story has been corrected to say that the unemployment rate fell to a 10-year low rather than a seven-year low. Employers are finding they need to pay more to attract workers in a tightening job market. The government jobs report stands in stark contrast to the ADP National Employment Report that found the private sector added 265,000 jobs in March, far more than the 185,000 expected by economists for the month. Meanwhile, online retailers, the big competitors to physical stores, gained 2,200 jobs.

Hiring was off sharply for education and health services providers. Those people were not in the labor force, wanted and were available for work and had looked for a job at some time during the prior 12 months.

However, the unemployment rate remains high for black Americans.

Share