The jobless numbers for March jumped from 8.1% to 8.5%. About 663,000 jobs were lost, boosting unemployment to its highest rate since 1983. Factoring in part-time and discouraged workers, the jobless rate is more than 15%.
There were 9,000 more jobs cut than analysts had predicted, and March's losses were 12,000 more than February's. January's numbers have been modified from an original number of 655,000 to 741,000. Since December of 2007, the economy has lost a net total of 5.1 million jobs while the federal government has imported more than 2 million foreign workers.
Factories took the hardest hit in March, cutting 161,000 jobs. Despite some positive news in the home sales numbers from February, construction firms cut 126,000 jobs. Professional and business services, retailers and the hospitality industry also saw significant cuts.
Education and health care were the only major industries to show a gain in jobs.
For more information, see the Associated Press and check your Action Buffet for faxes you can send urging Congress and President Obama to protect American workers.
Originally Published: Fri, Apr 3rd 2009 @ 9:54am EDT