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The PJ Tatler

by
Bridget Johnson

Bio

April 4, 2014 - 8:03 am

The unemployment rate was unchanged at 6.7 percent for March, the Bureau of Labor Statistics reported this morning, a number that’s shown little movement since December.

“The unemployment rate for adult women increased to 6.2 percent in March, and the rate for adult men decreased to 6.2 percent. The rates for teenagers (20.9 percent), whites (5.8 percent), blacks (12.4 percent), and Hispanics (7.9 percent) showed little or no change. The jobless rate for Asians was 5.4 percent (not seasonally adjusted), little changed from a year earlier,” the Labor report said. The jobless rate for women was 5.9 percent in February and 12 percent for blacks.

“The number of long-term unemployed (those jobless for 27 weeks or more), at 3.7 million, changed little in March; these individuals accounted for 35.8 percent of the unemployed.” The labor force participation rate and employment-population ratio also remained stagnant.

The Obama administration, though, latched onto the part of the report that found total nonfarm payroll employment rose by 192,000 in March.

“The economy continued to add jobs in March at a pace consistent with job growth over the past year. Additionally, the unemployment rate was steady while the labor force participation rate edged up. While today’s data indicates that the recovery is continuing to unfold, the President still believes further steps must be taken to strengthen growth and boost job creation,” Jason Furman, chairman of the Council of Economic Advisers, said in a statement. “In this regard, the Senate’s decision yesterday to move forward with the consideration of a bill to reinstate extended unemployment insurance was an important step in the right direction.”

“In addition to encouraging this and other action in Congress, such as raising the minimum wage and passing the Paycheck Fairness Act, the President will continue to act on his own executive authority wherever possible to expand economic opportunity for American families.”

Long-term unemployment benefits expired at the end of last year. A bill to reinstate the stimulus-era package cleared a cloture vote in the Senate on Thursday and is expected to pass Monday, but is unlikely to clear the House without major revisions.

“I’m glad more Americans have found work, but our economy still isn’t creating jobs for the American people at the rate they were promised,” House Speaker John Boehner (R-Ohio) said in a statement. “Under the Republican jobs plan, the House has passed dozens of bills that would help fuel economic growth by expanding all types of energy production, protecting families and small business from ObamaCare, improving education and job training, and more.”
“Senate Democrats have no excuse for standing in the way of these common-sense jobs measures, many of which passed with bipartisan support, and I urge them to act immediately.”

Bridget Johnson is a veteran journalist whose news articles and opinion columns have run in dozens of news outlets across the globe. Bridget first came to Washington to be online editor at The Hill, where she wrote The World from The Hill column on foreign policy. Previously she was an opinion writer and editorial board member at the Rocky Mountain News and nation/world news columnist at the Los Angeles Daily News. She is an NPR contributor and has contributed to USA Today, The Wall Street Journal, National Review Online, Politico and more, and has myriad television and radio credits as a commentator. Bridget is Washington Editor for PJ Media.

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We need more finance and speculation! More fake wealth created out of debt and leverage! More disinvestment in the real economy and more off-shoring of jobs!

And more top heavy tax cuts, we need wealth to be concentrated to an even greater extent to repair the broken US economy!
25 weeks ago
25 weeks ago Link To Comment
Because of Booooooosh! It's all Booooosh's fault! OOOHHH.... squirrel!
25 weeks ago
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