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US employment jumps in March

04-02-2011 08:15 BJT

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US employment grew solidly for a second month in March, and the jobless rate hit a two-year low of 8.8 percent.

The figure underscores a decisive shift in the labor market that should help to underpin the recovery.Nonfarm payrolls rose 216-thousand in March, the largest increase since last May.

But the data is likely not strong enough to push the Federal Reserve off its ultra-easy monetary policy course.Another report shows factory activity grew strongly last month, although it backed off a nearly 7-year high hit in February.

It was still the 20th straight month of expansion.President Barack Obama says the positive jobs report means the US economy is showing real strength. But analysts caution against too much optimism. The economy has recovered only a fraction of the more than 8 million jobs lost in the recession.

Barack Obama, US President, said, "Nearly two years after one of the worst recessions in our history -- certainly the worst one in our lifetimes -- our economy is showing signs of real strength. Today we learned that we added, 230,000 private sector jobs last month and that's good news. That means more packages. Now, despite that good news, everybody here know that we have a lot more work to do."

 

 

 

Editor:Zhang Pengfei |Source: CNTV.CN

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