Employers added most jobs in 3 years in March

[Hot Mega]

WASHINGTON – The nation's economy posted its largest job gain in three years in March, while the unemployment rate remained at 9.7 percent for the third straight month.

The increase in payrolls is the latest sign that the economic recovery is gaining momentum and healing in the job market is beginning. Still, the healing is likely to be slow, and most economists don't expect new hiring to be fast enough this year to rapidly reduce the unemployment rate.

The Labor Department said employers added 162,000 jobs in March, the most since the recession began but below analysts' expectations of 190,000. The total includes 48,000 temporary workers hired for the U.S. Census, also fewer than many economists forecast.

Private employers added 123,000 jobs, the most since May 2007.
"It's just the beginning of a rise in private hiring that will help sustain the recovery," said Stuart Hoffman, chief economist at PNC Financial Services Group. "They're not big numbers, but they're welcome numbers."

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[Will E Worm]

Part-time and temporary jobs that pay minimum wage is not a victory.

:hatsoff:

 

[georges]

Part-time and temporary jobs that pay minimum wage is not a victory.

:hatsoff:

absolutely. They are just a mere sign of trying to put people back at work without giving them an open ended contract with serious warranties and a real gratifying salary.

 

[Rey C.]

Seems like a trend that's FINALLY going in the right direction again.

Economists took heart that even aside from the population count, the private sector added 123,000 jobs for the month, the most since May 2007.

Economists do not expect the jobless rate to drop to something more normal — like 5.5 percent to 6 percent — until the middle of this decade.

In the meantime, economists are concerned that hiring now appears to be concentrated among large companies — a sign that small businesses, which typically lead job creation in the early stages of a recovery, are having difficulty getting financing from banks.

In March, the education industry led job creation, followed by health services and government. Those sectors, plus others like the hospitality industry, manufacturing and retail, will continue hiring as the recovery picks up, economists say.

Paula Hartland, on the other hand, snagged a job last month in communications at Children's Healthcare of Atlanta after being laid off in January, and urged job-seekers to not give up hope.

"You kind of have to ignore all the negative news," she said. "You have to put all your time and energy into networking into those companies where you want to work."