Chart of the Day: Net New Jobs in March

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Here’s my usual monthly chart showing net new jobs created in March. Why net? Because the U.S. population increases every month, which means you need a certain number of new jobs just to tread water. This chart subtracts that out to show the true net growth in employment.

Bottom line: the number of net new jobs added in March was about 30,000. That’s better than zero, but still pretty crappy. If my previous post about the shadow banking system didn’t convince you that the economy is still too weak to be thinking about austerity, this one should.

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THE BIG PICTURE

You expect the big picture, and it's our job at Mother Jones to give it to you. And right now, so many of the troubles we face are the making not of a virus, but of the quest for profit, political or economic (and not just from the man in the White House who could have offered leadership and comfort but instead gave us bleach).

In "News Is Just Like Waste Management," we unpack what the coronavirus crisis has meant for journalism, including Mother Jones’, and how we can rise to the challenge. If you're able to, this is a critical moment to support our nonprofit journalism with a donation: We've scoured our budget and made the cuts we can without impairing our mission, and we hope to raise $400,000 from our community of online readers to help keep our big reporting projects going because this extraordinary pandemic-plus-election year is no time to pull back.

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