U.S. unemployment falls to 7.5 % U6, the broad definition is 13.4 %

The United States continues to make slow but steady progress on lowering its unemployment rate. Total unemployment was 7.5% down from 7.6 % last month. A total of 165, 000 were added to payroll employment and there were substantial upward revisions of this statistic for both February and March. February was revised to 332,000 from 268,000 and March 138,000 from 88,000. Most of the job gains were in the services including retail trade, health care and social services. there were little or no gains in manufacturing and government. young men and women from 16 to 19 and those with no high school diploma suffered the highest unemployment rates. The rate for 16-19 year olds was 24.1 % and for those without a diploma 11 %. Those with a B.A. or higher had low rates of unemployment of 3.9 %. The labour participation rate remains low at 63.3 % The broad definition of unemployment which includes discouraged workers and those marginally attached to the workforce and working part-time when they would rather work full-time stands at 13.4 %, down  from 13.9 % a month ago and 14.1 % a year ago.

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About haroldchorneyeconomist

I am Professor of political economy at Concordia university in Montréal, Québec, Canada. I received my B.A.Hons (econ.&poli sci) from the University of Manitoba. I also completed my M.A. degree in economics there. Went on to spend two years at the London School of Economics as a Ph.D. student in economics and then completed my Ph.D. in political economy at the University of Toronto. Was named a John W.Dafoe fellow, a CMHC fellow and a Canada Council fellow. I also was named a Woodrow Wilson fellow in 1968 after completing my first class honours undergraduate degree. Worked as an economist in the area of education, labour economics and as the senior economist with the Manitoba Housing and Renewal Corporation for the Government of Manitoba from 1972 to 1978. I also have worked as an economic consultant for MDT socio-economic consultants and have been consulted on urban planning, health policy, linguistic duality and public sector finance questions by the governments of Manitoba, Saskatchewan,the cities of Regina and Saskatoon, Ontario and the Federal government of Canada. I have also been consulted by senior leaders of the British Labour party, MPs from the Progressive Conservative party, the Liberal party and the New Democrats on economic policy questions. Members of the Government of France under the Presidency of Francois Mitterand discussed my work on public sector deficits. I have also run for elected office at the municipal level. I first began to write about quantitative easing as a useful policy option during the early 1980s.
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