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Archive for April 7th, 2013

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A robust jobs recovery remains out of reach. The March jobs report released by the Bureau of Labor Statistics last showed job growth of 88,000 in March—far lower than the 2012 average increase of 183,000.

“This morning’s jobs report was a big, negative surprise and underscored that a robust jobs recovery, even now, has not yet solidified,” said EPI economist Heidi Shierholz. At 168,000 per month, the average growth rate of the first quarter is not even close to adequate; at that rate, we would not return to the prerecession unemployment rate until late 2019. Additionally, although the unemployment rate ticked down to 7.6 percent in March, the decline is due to people dropping out of the labor force. In fact, the labor force participation rate dropped to its lowest point of the downturn, 63.3 percent.

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