April 7, 2017

Chart of the Day: Net New Jobs in March

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The American economy added 98,000 new jobs last month, 90,000 of which were needed to keep up with population growth. This means that net job growth clocked in at 8,000 jobs. That’s pretty dismal, but under the surface the news was better: the number of employed people went up by 472,000 and the number of unemployed declined by 326,000. As a result, the headline unemployment rate dropped to 4.5 percent.

Hourly earnings of production and nonsupervisory employees went up at an annual rate of about 2.3 percent for the second month in a row. That’s about even with the inflation rate, which means the real increase was close to zero. That’s disappointing given recent signs that wages were starting to make gains.

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With only days left until December 31, we've raised about half of our $400,000 goal—but we need a huge surge in reader support to close the remaining gap. Whether you've given before or this is your first time, your contribution right now matters.

Managing an independent, nonprofit newsroom is staggeringly hard. There’s no cushion in our budget—no backup revenue, no corporate safety net. We can’t afford to fall short, and we can’t rely on corporations or deep-pocketed interests to fund the fierce, investigative journalism Mother Jones exists to do. That’s why we need you right now. Please chip in to help close the gap.

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