Acting Secretary of Labor Seth D. Harris issued the following statement about the March 2013 Employment Situation report released today:

"With the addition of 95,000 new private sector jobs in March, we see more evidence that the U.S. economy continues to bounce back, but not quickly enough for too many middle-class families. The unemployment rate ticked downward slightly to 7.6 percent, the seventh consecutive month below 8 percent.

"Private employment has now increased for each of the last 37 months, with 6.5 million jobs created over that time. So while we have come a long way in just a few years' time, the economy is not yet clicking on all cylinders. We need to work together, Congress and the administration, to unleash its full potential. Americans are counting on Washington to be a catalyst for growth, not a roadblock. That means solving our fiscal challenges in a balanced way, with both responsible cuts and targeted investments to help workers get back on their feet.

"President Obama is pushing forward an agenda that will continue to revitalize the economy. He has recently called for a Partnership to Rebuild America, a new public-private initiative to provide more funding for infrastructure projects that create good middle-class jobs, particularly in construction.

"The administration will also continue to press for new investments in training, re-employment services and skills development for American workers – particularly veterans – that will spur further job creation.

"Every American who is willing to work hard deserves a job, but we owe a special debt to our nation's veterans. Recently released 2012 figures show veterans finding and keeping jobs in larger numbers. Veterans' unemployment fell from 8.3 percent in 2011 to 7.0 percent in 2012 (with a corresponding drop from 12.1 percent to 9.9 percent for post-9/11 veterans). Additional resources to help service members complete the transition to civilian life are an important way to honor their sacrifice and a sound investment in a growing economy powered by a thriving middle class.

"The March report showed continued gains in professional and business services (+51,000), health care (+23,000) and construction (+18,000). But retail trade employment experienced a decline of 24,000 jobs after an average of 32,000 jobs added over the prior six months."  

Comment on U.S. Bureau of Labor Statistics Employment Situation Report
Kathy Bostjancic , Director of Macroeconomic Analysis, The Conference Board:

The labor market had some reasonable momentum over the past several months, but with just 88,000 job gains in March, once again we see a disappointing seasonal slowdown unfold as we head into spring. What is even more troubling about the most recent slowdown is that it takes place even before the sequester cuts materially hit the economy. This reinforces our view that the estimated 3.5 percent real GDP growth in Q1 is not likely to be sustained. Instead, we see the overall economy, led by the consumer, downshifting significantly in the second quarter, struggling to get close to 1 percent real growth. The sticky point throughout the nearly four years since the official end of the recession has been revving up in the "core" service sector (which excludes health and education). While jobs were finally beginning to open up there, the impact of the sequester likely blunts that job growth a bit and leads to further contraction in government sector jobs, and will likely continue to keep growth on the slow boil throughout the spring and into the summer.