Marketplace®

Daily business news and economic stories

Employment picks up

The U.S. created 216,000 jobs last month, pushing down the unemployment rate to 8.8 percent. Much of the country is ready to stop thinking about jobs, but millions of Americans remain out of work.

Kai Ryssdal: The employment news this first Friday of the month is — for a long-overdue change — pretty good. The economy added 216,000 jobs in March. The unemployment rate hit a two-year low of 8.8 percent. And almost everywhere you looked, there was hiring: manufacturing, health care, education, hotels and restaurants. Temporary work is up, which gives at least some of the unemployed a way back into the workforce.

But the better it gets for most, the worse it gets for some. Marketplace’s Mitchell Hartman reports.


Mitchell Hartman: Private employers have hired more than half a million new workers this year. And the unemployment rate’s fallen a full percent since Thanksgiving.

Gary Burtless: The better the news, the less most of the rest of us worry about the people who are without jobs.

Gary Burtless is a labor economist at the Brookings Institution.

Burtless: The layoff rate has come way down, and unfortunately that makes a lot of employed people a little less sympathetic.

Which makes Melissa Boteach’s job way harder. She’s campaign coordinator for an anti-poverty coalition called Half in Ten and all this good job news…

Melissa Boteach: It can really mask the needs of the long-term unemployed. Nearly half of the unemployed have been out of work for six months or longer — that’s 6.1 million people. And about a third have been out of work for over a year.

And the situation’s getting worse. The average job hunt now takes 39 weeks — the longest since 1948.

Boteach: One of the things that we can do is to invest in job training.

That’s a seriously uphill battle, though, with Republicans in Congress trying to slash this year’s worker education budget.

Gary Burtless at Brookings says job training can help older and less-educated workers find a place in the ‘new economy.’

Burtless: But I don’t think we should kid ourselves that it’s going to play a big role in the next year or two years in getting the unemployment rate down.

That’s because there are still about five job-seekers for every available job, so even re-trained workers will face plenty of competition.

I’m Mitchell Hartman for Marketplace.

Related Topics

Tagged as:

Latest Episodes

View All Shows
  • Marketplace
    41 minutes ago
    26:08
  • Marketplace Morning Report
    8 hours ago
    7:08
  • Marketplace Tech
    13 hours ago
    11:03
  • Make Me Smart
    a day ago
    19:00
  • This Is Uncomfortable
    4 days ago
    56:05
  • Million Bazillion
    25 days ago
    32:45