Economy
April 6, 2020
BLS Reports Disastrous March Job Creation Numbers
Written by Peter Wright
The employment situation in the U.S. is a disaster. The current economic situation is so extraordinarily dire that historical data and trend analysis is almost irrelevant except to illustrate the severity of the situation we are all experiencing.
Net job creation in March was negative 701,000 and January was revised down by 59,000, according to Bureau of Labor Statistics data. February was revised up by 2,000. This only takes into account the changes in the first half of the month when the books were closed for the preliminary monthly assessment. Normally this is reasonably accurate, but not in today’s world. Moody’s estimates that job losses could be 10 times worse in April.
