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U.S. economy added 120,000 jobs in March: Labor Department

04-07-2012 15:07 BJT

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WASHINGTON, April 6 (Xinhua) -- Weak jobs data released on Friday dashed economists' hopes of a faster return to pre- recession employment levels, highlighting the possibility of slower job growth ahead, U.S. experts said.

The U.S. economy added 120,000 jobs in March, fewer than expected, according to figures released in Washington by the U.S. Labor Department. This snapped a three-month trend averaging nearly 150,000 jobs per month.

Friday's report came as the U.S. undergoes the longest stretch of high unemployment since the Great Depression, as the jobless rate has exceeded the 8 percent mark since February 2009. And with gas prices inching toward 4 U.S. dollars per gallon in some parts of the country, hourly wages up just 2.1 percent over the past year and inflation climbing to 2.9 percent, many Americans are in for more hard times.

Rapid job growth is an important factor in kickstarting the floundering U.S. economy, as it helps boost consumer spending, which makes up 70 percent of the world's biggest economy.

Editor:James |Source: CNTV

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