Unemployment Numbers Released: 8.5% For March

U.S. Unemployment numbers were released for March, and the brutal increase in Unemployment continues. March unemployment ended at 8.5%, up 40 basis points from February, which was up 50 basis points from January itself.

Total nonfarm payroll employment continued to fall sharply (-663,000) in March. Payroll employment has declined by 3.3 million in the past 5 months. In March, job losses were large and extended across nearly all major industry sectors.

8.5% is a year-over-year change of 3.4%, which is huge.

In another troubling report, 32.2 million Americans are now on Food Stamps (a record number). That’s 1 in 10 people.

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