Unemployment falls in March

The U.S. unemployment rate decreased to 7.6 percent in March—the lowest in four years—from 7.7 percent in February as U.S. employers added 88,000 jobs, according to The Washington Post. However, the rate reportedly fell because more people stopped looking for work; the percentage of Americans working or looking for jobs fell to 63.3 percent in March, the lowest such figure in nearly 34 years.

Still, hiring in January and February was stronger than originally reported. January's job growth was revised up from 119,000 to 148,000, and February's job growth was revised up from 236,000 to 268,000.

In March, the professional and business services sector added 51,000 jobs; health care sector added 23,000 jobs; and construction sector added 18,000 jobs.

Additionally, the retail sector cut 24,000 jobs; manufacturing sector cut 3,000 jobs; and financial services sector cut 2,000 jobs.

March's job gains were less than half the average of the previous six months, when the economy added an average of 196,000 jobs a month. There currently are 11.7 million unemployed people in the U.S.

Date : 4/5/2013


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