U.S. unemployment rate falls to 8.8 percent

(AP) - The U.S. unemployment rate fell to a two-year low of 8.8 percent in March and companies added workers at the fastest two-month pace

WASHINGTON - (AP) - The U.S. 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.

advertisement | advertise on News 12

Trending Video

Police in North Brunswick looking for alleged bank 1 North Brunswick police looking for alleged bank robber
An infant and three others were hurt when 2 Infant, 3 others injured after car and school bus crash
3 VIDEO: Interview with Vape L1FE owner Jai Gyorfi on vape flavoring ban
4 VIDEO: Pro-President Donald Trump rally held in Middletown
News 12 New Jersey - Weather On The 5 New Jersey Weather Forecast

advertisement | advertise on News 12

Features

It's good to know you have Walt Kane Kane in Your Corner

It's good to know you have Walt Kane in your corner.

News 12 takes a look at the hottest Tech Check

Eric Landskroner has a look at the latest gadgets and biggest stories in tech.

News 12 On the Scene

Check out these exclusive videos from New Jersey celebs!

Sorry to interrupt...

Your first 5 are free

Access to News12 is free for Optimum, Comcast®, Time Warner® and Service Electric℠ video customers.

Please enjoy 5 complimentary views to articles, photos, and videos during the next 30 days.

LOGIN SUBSCRIBE