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The unemployment rate fell to a two year low this past week as the March reading of the national unemployment rate reading posted a notch lower than the February reading. Officially, the unemployment rate fell to a two year low of 8.8 percent in March, down from 8.9 percent in February. Specifically, the nation’s economy grew to the tune of an additional 216,000 jobs that were created in March. This good news helps support the positive trends observed recently in the jobs sector. Fewer Americans recently applied for first time unemployment benefits this past week as well. Overall, the unemployment rate has dropped more over the last four months than it has dropped over that same 4 month time frame in the past couple of decades. The economy is making substantial progress. The fact that our nation is recovering, jobs are improving and less Americans are filing for unemployment benefits is a plus, especially for those Americans living in Texas. Thousands of people in Texas are claiming unemployment during this current time but the funds set aside to pay out these benefits are depleting according to state program auditors. Even though the nation’s recovery is moving forward, our nations states will be paying back loans that were needed to pay for unemployment benefits for years. President Obama is considering waiver options on interest rates relating to these loans provided to over half the states in our union. Author: Stephen Johnson
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