8.5 PERCENT

As the world's economic leaders meet in Great Britain for the G-20 conference, and as President Obama makes several stops through Europe, the unemployment numbers for March were released. Another 633,000 jobs were lost during last month, bringing to 8.5% the number of unemployed American workers.

From the Center for American Progress:

No Good News for Workers

The labor market continues its downward acceleration. This is now the worst recession in post-World War II history in terms of total jobs losses, the total number of unemployed workers, and the rapid pace of the contraction. It is also, as of April, the 16th month of recession, as long as any other recession in the post-World War II era. Most of the job losses have occurred in the past few months as the pace of the downward spiral continues to quicken.


Employers shed 663,000 jobs in March—the third largest one-month fall in employment since 1949. The second largest was in December 2008, and the largest was in January 2009. Total job losses are now at 5.1 million since the recession began in December 2007, and nearly two-thirds of the total (3.3 million) have occurred in just the last five months.

The unemployment rate spiked 0.4 percentage points up to 8.5 percent in March, and is now higher than at any time since 1983. There are 13.2 million people unemployed—more than at any other time in history. And 5.3 million additional people became unemployed over the past year—more than any other year since the U.S. Bureau of Labor Statistics began tabulating this data just after World War II.

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Manufacturing has shed 1.5 million jobs since the recession began in December 2007; over half of that has come in just the past four months, and 161,000 jobs were lost last month. The construction industry has lost 1.1 million jobs; more than half of that total has occurred in the past five months, and 126,000 jobs were lost last month. The temporary help industry—a harbinger of whether firms will likely hire in the months to come—has lost over three-quarters of a million jobs since the recession began, with over half of that coming in the past five months, and 72,000 jobs lost last month.

Employers are not only laying off workers—they are cutting hours as well. The average work week fell by 0.1 hours to 33.2 hours per week in March—the lowest level since 1964 when the Bureau of Labor Statistics began tabulating this data. Nearly 9 million workers reported working less than full-time due to slack business conditions or because they could only find part-time work. Such workers are at the greatest risk of losing health benefits as they may no longer qualify for their employer’s plan, but may also not qualify for Medicaid.

These numbers don't include those who are partially employed, working 20 hours or less, and those who have fallen off the unemployment rolls because their funds have run out and haven't found new employment. When these part-time workers and the non-funded unemployed are added in the total jumps to 15.6 percent.

No work, no money, and no health/medical insurance...and the Party of No Fucking Help unwilling to do anything except offer tax cuts for the wealthy.

There's more to the article, just click the C.A.P. title and go read the rest.

(Hat-tip to Heather Boushey at Center for American Progress)