It’s jobs report Friday! And that only means one thing. Data.
According to the latest job report released by the Bureau of Labor Statistics, the U.S. economy added 192,000 jobs in March and the unemployment remained flat at 6.7 percent.
This is actually a milestone because the private sector has apparently recovered all of the jobs that were lost in the meltdown better known as 2008. Considering this signals a labor market at its pre-recession point, according to a piece on CNN, this is good news indeed.
Tom Simons, an economist with Jefferies & Co., tells the site this is good news indeed. “We’ll be eclipsing the prior peak [for private sector jobs], and finally entering the expansion part of this recovery. We think this is a very significant milestone.”
Milestone aside, the journey has been arduous. According to the piece, jobs recovery has been the slowest one ever since the Department of Labor began tracking statistics back in 1939.