Unemployment stays at 9.7% for March

April 2, 2010 · Posted in Commentary 

The Bureau of Labor Statistics reported today that the unemployment rate stayed at 9.7% in March with 162,000 jobs being added.  This was the biggest increase in employment in 3 years.  The fact that the unemployment rate did not change seems to indicate that more people are entering the workforce.

Let’s breakdown the numbers:

  • The unemployment rate for high school drop outs was 14.5%, down from 15.6% last month.
  • 4.9% of college graduates were unemployed, down from 5.0%.
  • The jobless rate for high school graduates was 10.8%, up from 10.5%.
  • 10.0% of men 20 and over were unemployed.
  • Women 20 and over had an unemployment rate of 8.0%.
  • 26.1% of 16 to 19 year olds were unemployed, up from 25.0% last month.
  • Jobless rate amongst whites remained at 8.8%.
  • 16.5% of blacks were jobless, up from 15.8% in the prior month

The unemployment rate of college graduates decreased slightly from February. Overall, college graduates still enjoy the lowest unemployment rate of the listed groups.

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