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Unemployment Remains Steady At 9.7 Percent

The latest labour statistics show that 36,000 jobs were lost in February, although the unemployment rate remained unchanged at 9.7%, the U.S. Bureau of Labour Statistics reported today. 

Construction and information jobs were the biggest losers, while temporary services rose, possibly due to severe weather conditions as well as uncertainty among larger employers as to the actual growth of the economy.  There is still a large youth employment problem with 25% of teenagers without work, along with disparaging gaps between white unemployment (8.8%), black unemployment (15.8%), and Hispanics (12.4%).

The number of long term unemployed people, those who haven't found work for over 27 weeks, is steady around 6.1 million people, and the number of part time workers has increased from 8.3 million people to 8.8 million.

Read the entire report from the U.S. Department of Labor here.
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