America Added 120,000 Jobs in March: Is This Good or Bad?
In March, the U.S. added 120,000 more jobs, just released Bureau of Labor stats indicate. Now, this sure sounds like a lot, but compared to February -- when America's payroll swelled by 240,000 jobs -- this turns out not to be all that exuberant.
But is this cause for concern or disappointment?
Economists were banking on continued employment growth in March -- and hoped for 200,000 new positions.
Still, the national unemployment rate dipped to 8.2 percent, down from 8.3 percent in February -- def a step in the right direction.
New York's numbers, however, aren't entirely rosy.
Looks like the most recent Labor Department info indicates that the City's seasonally adjusted unemployment rate hovered somewhere around 9.6 percent in February 2012 -- higher than 8.8 percent in 2011. In the entire state, February unemployment was 8.5 percent, up from 8.1 the previous year.
Runnin' Scared called the Department to see when March stats would become available. We'll update when we hear back.
What this might mean for the state: A lackluster labor market might hurt Albany Dems' push for a minimum wage increase, as capital Republicans have long tried to discredit such initiatives by calling them "job killers."
Follow Victoria Bekiempis @vicbekiempis.