March Unemployment Rate Is Lowest in Two Years, Hound Finds 116,000 Jobs Nationwide

Pasadena, CA -- (SBWire) -- 04/06/2011 -- The latest jobs report from the Labor Department has shown that the unemployment rate is now 8.8 percent, the lowest since March 2009.

The economy created a net total of 216,000 jobs. The nonfarm private sector created 230,000 jobs while the government job losses totaled 14,000 in March. There were still 13.5 million Americans unemployed. The number of long-term unemployed was 6.1 million and they now account for 45.5 percent of the total unemployed in March. In February, they formed 43.9 percent of the total jobless population.

Although the jobs scenario has improved compared to 2010, there are still millions of Americans who are underemployed or forced to work in part-time jobs. In March, there were 8.4 million involuntary part-time workers. Another 2.4 million people where marginally in the labor force, including 921,000 people who have given up looking for work. The people in the later category are referred to as discouraged workers who believe that there are no jobs for them.

The hourly wage for all employees in the nonfarm private sector stayed the same at $22.87. Professional services accounted for the largest sector in jobs creation with 78,000 new jobs. Education and healthcare accounted for another 45,000 jobs. Leisure and hospitality created 37,000 jobs and retail added another 18,000 jobs. The manufacturing sector was able to create only 17,000 net jobs.

Barnes, CEO of job search engine Hound, believes that the economy is finally picking up. “We have seen more and more companies listing their job openings on their websites. But a lot of people don’t see that and instead rely on the public job boards. Many small firms can’t afford their fees so both the company and the jobless lose out.” Hound, a job search engine, has been tracking jobs from all sectors and has found over 116,000 jobs directly from employer websites in the last seven days.