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March Jobs Report Mediocre

Job seekers wait in line to enter the San Francisco Hirevent job fair at the Hotel Whitcomb on March 27, 2012 in San Francisco, California.
Balloons may not accurately represent the fun within. Photo: Justin Sullivan/Getty Images

Another highly anticipated monthly jobs report was released this morning, and it’s a bummer. No offense to all the people who found jobs in March — we are all very happy for you and wish you the best, and we hope your new coworkers aren’t cliquey and invite you to lunch — but it would just be great if there were more of you. Employment grew by an unimpressive-at-this-point-in-our-recovery 120,000 last month, which is well below expectations of around 200,000. It’s the smallest monthly job growth since October, in fact, and even though the unemployment rate ticked down from 8.3 percent to 8.2 percent, that can be chalked up to an increase in unemployed people who gave up looking for work.

Obligatory Analysis of Political Implications of Jobs Report: This is unhelpful for Obama.