(An) overarching issue is the number of people who remain unemployed. Though the rate is dropping, there are still 13.5 million people who would like to work, but can’t get a job and that doesn’t include those who dropped out of the labor force. The broader U-6 unemployment rate that includes people marginally attached to the labor force continued to decline but still remains at 15.7%. So much slack in the job market means that employers don’t feel as much pressure to increase wages.
1/08-3/11 jobs growth - Steve Benen, Political Animal
Finally, there are still some lagging sectors. Amid the broader jobs increases, construction continued to shed jobs, a reminder that the housing market continues to struggle. Meanwhile, local governments facing budget crunches are shedding jobs, 15,000 last month, and more cuts are on the table across the country.