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March Jobs Report – Largest Monthly Job Gain In 3 Years

April 2, 2010

This morning, the Department of Labor released the March jobs report showing job gains of 162,000 — the largest job gain in a single month in the past three years.

Chart - 162,000 Job Gain In March 2010

Additionally, private employers added 123,000 jobs, the most since May 2007. Speaker Pelosi on today’s report:

Today's jobs report offers optimism that the economic recovery is starting to reach America's workers. News that American job losses of nearly 800,000 a month under President Bush are now turning to job gains of 162,000 last month — the most jobs added in one month in the past three years — is evidence that U.S. businesses are gaining confidence.

Building on the Recovery Act's tax cuts for and investments in American families and small businesses, we are continuing our efforts to spur job creation in the private sector.

Just this month, Congress has passed and the President has signed the HIRE Act to give small businesses a tax break for hiring new workers and to create jobs building the infrastructure of the future. And health insurance reform, now law, will create up to 4 million new jobs over the decade. The new law also expands educational opportunities for America's students and families – a key to economic success in the 21st Century – and makes the largest investment in college aid in our nation's history to lower the cost of student loans.

To ensure America's continued global competitiveness, we must all have access to the tools to succeed in times of economic prosperity as well as times of uncertainty. We will continue our efforts to end economic disparities that have existed longer than the current downturn.

Today's jobs report is hopeful news, but we are not finished. We will continue to fight to put Americans back to work by laying a new foundation for renewed economic strength and opportunity.