The BizFilings blog covering business tips and trends.
Unemployment Drops to 8.8 Percent, Labor Department Reports
Published on Apr 1, 2011
Read our article, 'Understand Your Demographic for SEO Purposes' at 'Time to Start Up,' the small business blog by BizFilings.
The U.S. economy added 216,000 jobs last month, contributing to a decline in the unemployment rate to 8.8 percent - the lowest the figure has been since March 2009. Perhaps more importantly, the jobless rate has fell a full percentage point since November of last year.
However, the overall optimistic report was marred somewhat by less obvious economic figures.
"The number of long-term unemployed - that is, those jobless for 27 weeks or more - remained painfully high, at more than six million," wrote Michael Powell for the New York Times. "The small size of the national labor force remains a pressing concern, reflecting discouragement with the prospects for employment."
Other analysts have pointed out how rising food prices and emerging difficulties in manufacturing supply chains - due to the earthquake in Japan - may further complicate markets in coming months.
However, other surveys released this week found gains in both private sector employment and small business hiring, all of which combined to paint a picture of a gradually improving economy for job seekers and entrepreneurs starting a business.