Unemployment remains unchanged at 9.7% in March
The rate of unemployment remained unchanged in the last month at 9.7 per cent, data released by the US Labor Department's Bureau of Labor Statistics unveiled on Friday. The month witnessed creation of 162,000 new jobs on non-farm payrolls; the country's largest in the last three years.
However, the figures fell short of 200,000 new jobs during the month as it was expected by experts. Low hiring of census workers is said to be the reason for the same. The government hired only 48,000 census workers in March as against 100,000 anticipated by many.
The worst in March came from the financial sector, which reduced 21,000 jobs. Nevertheless, even at the current job creation figures indicate recovery for the economy, a little slower though.
Meanwhile, the economy is expected to get a boost very soon, even if temporarily, as the Commerce Department was planning to hire nearly 600,000 workers on a temporary basis for the year's Census survey.
The worst part of data released on Friday, however, was that the country's average hourly income dropped 0.1 per cent during the month. The data also unveiled that currently there are over 6.5 million Americans who have no jobs for over six months now.