Unemployment Rates
March 1997 – 4.5 – Whites
March 2007 – 3.8 – Whites
March 1997 – 10.7 – Blacks
March 2007 – 8.3 – Blacks
March 1997 – 8.6 – Latinos
March 2007 – 5.1 – Latinos
Wage Growth – Lower-Tiered Workers
March 2001 – $14.42 – avg. hourly wages
March 2007 – $17.22 – avg. hourly wages
19.4% – Nominal wage growth – 3/01 – 3/07
15.5% – Total consumer inflation rate – 3/01 – 3/07
Net Job Growth: March 2006 – March 2007
1,963,000 – Net payroll job growth (163,000/month)
2,574,000 – Net overall job growth (214,000/month)
Private vs. Public Sectors – Net W-2 Job Growth
Regarding that net gain of 1,963,000 payroll jobs over the past year:
Private Sectors – 85%
Government – 15%
Go figure.
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Source: Department of Labor, Bureau of Labor Statistics.
