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

A 21-year-old was critically injured after crashing his 1 21-year-old critically injured in crash on Bronx River Parkway
A violent brawl captured on video Thursday night 2 City Island restaurant brawl captured on video
Students at Riverdale Country School are getting the 3 Students at Riverdale Country showcase their art
Manna of Life Ministries operates out of the 4 Volunteers spend their weekends at Morrisania food pantry
Police say Timothy Hairston, 27, was shot to 5 Police: Man shot, killed on E. 165th Street

advertisement | advertise on News 12

Features

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