U.S. Economy Added 216,000 Jobs in March; Rate at 8.8%
The Labor Department released a report on Friday that showed a 216,000 increase in jobs in March, lowering the unemployment rate to 8.8%. This marks the 13th month of private sector job growth. Manufacturing, health care and business services were among the sectors of the economy that added jobs. While the number of long-term unemployed remains high, at more than six million, economists say that weekly claims have been declining, down to 388,000 last week. March's growth outpaced estimates from economists, who caution that there will need to be higher job growth to speed up the economy further.
See "U.S. Economy Added 216,000 Jobs in March; Rate at 8.8%", Michael Powell, The New York Times, March 31, 2011