Source: March BLS jobs report
The United States’ private sector generated over 192,000 jobs in March. Although the sector’s total job creation was not nearly high enough to lower the national unemployment rate, a majority of economists were encouraged by the figures.
This growth revealed a milestone of job creation, as private sector jobs added in March exceeded the employment figures of December 2007, its pre-recession peak levels. This milestone can be considered meaningful, and a step in the right direction.
But while the private sector has recouped 8.9 million jobs since February 2010, U.S. government jobs have not recovered since the recession began. Unfortunately, this has stumped overall growth and has resulted in a total nonfarm employment figure of 422,000 jobs below its December 2007 pre-recession level.