Unemployment rate drops in March

The U.S. unemployment rate decreased from 8.3 percent to 8.2 percent in March as employers added 120,000 jobs, according to The Washington Post.

Although economists expected employers to add 210,000 jobs in March, they still are encouraged by the recent hiring trend. The economy has generated an average of 212,000 jobs per month during the past three months.

Economists attribute the latest jobs report to the warm weather in January and February, which allowed companies that work outdoors to hire workers earlier than usual, “stealing” jobs from March.

In March, the manufacturing sector added 37,000 jobs; professional and business services sector added 31,000 jobs; health care sector added 26,000 jobs; financial activities sector added 15,000 jobs; retail sector cut 34,000 jobs; and construction sector and mining sector basically were unchanged.

There currently are 12.7 million unemployed people in the U.S.

Date : 4/9/2012