Job Growth Slows, Unemployment Rate Drops to 8.2%
Nonfarm payroll employment rose by 120,000 in March, and the unemployment rate dropped to 8.2% from 8.3%, the U.S. Bureau of Labor Statistics reported today. Employment rose in manufacturing, food services and drinking places, and health care, but was down in retail trade.
Manufacturing employment rose by 37,000 in March, with gains in motor vehicles and parts (+12,000), machinery (+7,000), fabricated metals (+5,000), and paper manufacturing (+3,000). Factory employment has risen by 470,000 since a recent low point in January 2010.
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