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The benefits of the ARP will continue to be captured in coming months. (Photo: Getty/Stock Photo/Maskot)
A solid 916,000 jobs were added in March, the strongest job growth we've seen since the initial bounceback faded last summer. Even with these gains, the labor market is still down 8.4 million jobs from its pre-pandemic level in February 2020. In addition, thousands of jobs would have been added each month over the last year without the pandemic recession. If we count how many jobs may have been created if the recession hadn't hit--consider average job growth (202,000) over the 12 months before the recession--we are now short 11.0 million jobs since February.
Even at this pace, it could take more than a year to dig out of the total jobs shortfall. However, today's number is certainly a promising sign for the recovery, especially as vaccinations increase and vital provisions in the American Rescue Plan (ARP) have continued to ramp up since the March reference period to today's data. The benefits of the ARP will continue to be captured in coming months.
Key points of note in today's report:
In addition to the 9.7 million officially unemployed workers in March 2021, we must add four more groups of economically hurt workers:
In total, this means that 23.6 million workers are currently harmed in the coronavirus downturn. We include the 5.7 million baseline unemployment level prior to COVID as part of the number hurt right now because job search was made much more difficult by the labor market impacts of the recession. We include the 2.7 million estimated undercount of the unemployed prior to the start of COVID based on Ahn and Hamilton (2021) because again job search was made much more difficult by the labor market impacts of the recession.
Trump and Musk are on an unconstitutional rampage, aiming for virtually every corner of the federal government. These two right-wing billionaires are targeting nurses, scientists, teachers, daycare providers, judges, veterans, air traffic controllers, and nuclear safety inspectors. No one is safe. The food stamps program, Social Security, Medicare, and Medicaid are next. It’s an unprecedented disaster and a five-alarm fire, but there will be a reckoning. The people did not vote for this. The American people do not want this dystopian hellscape that hides behind claims of “efficiency.” Still, in reality, it is all a giveaway to corporate interests and the libertarian dreams of far-right oligarchs like Musk. Common Dreams is playing a vital role by reporting day and night on this orgy of corruption and greed, as well as what everyday people can do to organize and fight back. As a people-powered nonprofit news outlet, we cover issues the corporate media never will, but we can only continue with our readers’ support. |
A solid 916,000 jobs were added in March, the strongest job growth we've seen since the initial bounceback faded last summer. Even with these gains, the labor market is still down 8.4 million jobs from its pre-pandemic level in February 2020. In addition, thousands of jobs would have been added each month over the last year without the pandemic recession. If we count how many jobs may have been created if the recession hadn't hit--consider average job growth (202,000) over the 12 months before the recession--we are now short 11.0 million jobs since February.
Even at this pace, it could take more than a year to dig out of the total jobs shortfall. However, today's number is certainly a promising sign for the recovery, especially as vaccinations increase and vital provisions in the American Rescue Plan (ARP) have continued to ramp up since the March reference period to today's data. The benefits of the ARP will continue to be captured in coming months.
Key points of note in today's report:
In addition to the 9.7 million officially unemployed workers in March 2021, we must add four more groups of economically hurt workers:
In total, this means that 23.6 million workers are currently harmed in the coronavirus downturn. We include the 5.7 million baseline unemployment level prior to COVID as part of the number hurt right now because job search was made much more difficult by the labor market impacts of the recession. We include the 2.7 million estimated undercount of the unemployed prior to the start of COVID based on Ahn and Hamilton (2021) because again job search was made much more difficult by the labor market impacts of the recession.
A solid 916,000 jobs were added in March, the strongest job growth we've seen since the initial bounceback faded last summer. Even with these gains, the labor market is still down 8.4 million jobs from its pre-pandemic level in February 2020. In addition, thousands of jobs would have been added each month over the last year without the pandemic recession. If we count how many jobs may have been created if the recession hadn't hit--consider average job growth (202,000) over the 12 months before the recession--we are now short 11.0 million jobs since February.
Even at this pace, it could take more than a year to dig out of the total jobs shortfall. However, today's number is certainly a promising sign for the recovery, especially as vaccinations increase and vital provisions in the American Rescue Plan (ARP) have continued to ramp up since the March reference period to today's data. The benefits of the ARP will continue to be captured in coming months.
Key points of note in today's report:
In addition to the 9.7 million officially unemployed workers in March 2021, we must add four more groups of economically hurt workers:
In total, this means that 23.6 million workers are currently harmed in the coronavirus downturn. We include the 5.7 million baseline unemployment level prior to COVID as part of the number hurt right now because job search was made much more difficult by the labor market impacts of the recession. We include the 2.7 million estimated undercount of the unemployed prior to the start of COVID based on Ahn and Hamilton (2021) because again job search was made much more difficult by the labor market impacts of the recession.