Thursday, April 28, 2011

The latest BHI entry at Red Mass Group

The Institute's most recent posting at Red Mass Group is now up.

Thursday, April 14, 2011

Better news: Mass. jobless rate falls to 8% in March 2011

While jobless claims rise nationally, the Mass. jobless rate falls to 8 percent!

Still a long way to go to recover all those lost jobs in MA but the needle is pointing in the right direction.

Friday, April 1, 2011

U.S. Unemployment rate for March 2011: 8.8

U.S. unemployment rate at 8.8%. Is this the new normal? Major takeaway from BLS Commissioner Keith Hall's remarks before the Joint Economic Committee:
In March, job growth occurred in professional and business services, health care, leisure and hospitality, and mining. Manufacturing employment continued to trend up over the month. Professional and business services employment rose by 78,000 in March. This industry has added 692,000 jobs since a recent low point in September 2009. In March, employment in temporary help services rose by 29,000. Temporary help services has added about a half million jobs since August 2009.
More from the Associated Press:
Economists predict employers will add jobs at roughly the same pace for the rest of this year. That would generate about 2.5 million new positions. Still, that would make up for only a small portion of the 7.5 million jobs wiped out during the recession.

A big factor in the lower unemployment rate is that the proportion of people who either have a job or are looking for one is surprisingly low for this stage of the recovery.

People who stopped looking for work during the downturn are not counted as unemployed. If many out-of-work people start looking for work again, they will be counted and the unemployment rate could go up. That could happen even if the economy is adding jobs.