Home Economy Report: Weak national job recovery in March

Report: Weak national job recovery in March

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The economy added 88,000 jobs in March, the lowest amount in nine months, according to the U.S. Department of Labor.

The report comes as a surprise, as analysts predicted roughly 268,000 jobs would be added during the month. About 236,000 jobs were added in February.

The unemployment rate dropped to 7.6 percent from 7.7 percent the month prior, however the drop is largely due to a drop in the labor force, according to the Labor Department. About 496,000 people dropped out over the month.

The largest increases in jobs came from the professional and business services sector and the health care industry. Meanwhile the retail sector lost 24,000 jobs in March. The U.S.  Postal Service cut 12,000 jobs.

 

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