Jobless rate falls to 8.8%, two-year low
Representatives from Breakthrough Charter Schools talk with a job seeker at the 32nd Annual Spring Career Fair at Cleveland State University. It was announced April 1 that the unemployment rate fell to a two-year low of 8.8 percent in March and companies added workers at the fastest two-month pace since before the recession began. (March 4, 2011) Credit: AP
The unemployment rate fell to a two-year low of 8.8 percent in March and companies added workers at the fastest two-month pace since before the recession began.
The Labor Department says the economy added 216,000 new jobs last month, offsetting layoffs a local governments. Factories, retailers, education, health care and an array of professional and financial services expanded payrolls.
Private employers, the backbone of the economy, drove nearly all of the gains. They added 230,000 jobs last month, on top of 240,000 in February.
It was the first time private hiring topped 200,000 in back-to-back months since 2006 — more than a year before the recession started. The unemployment rate dipped from 8.9 percent in February to 8.8 percent in March.
The rate has fallen a full percentage point over the last four months, the sharpest drop since 1983.
Sarra Sounds Off Ep 36: Champs crowned in lax and flag football On the latest episode of "Sarra Sounds Off," Gregg talks with Michael Sicoli and Tess Ferguson about county champs crowned in boys and girls lacrosse, and Jared Valuzzi reports on the Long Island flag football championship.
Sarra Sounds Off Ep 36: Champs crowned in lax and flag football On the latest episode of "Sarra Sounds Off," Gregg talks with Michael Sicoli and Tess Ferguson about county champs crowned in boys and girls lacrosse, and Jared Valuzzi reports on the Long Island flag football championship.
