March Unemployment Rate Falls to 8.2%

The nation’s unemployment rate fell from 8.3 percent to 8.2 percent in March, the lowest jobless rate since January 2009 according the government’s monthly jobs report.

While the unemployment rate dropped slightly, fewer jobs were created than anticipated. During the month, employment grew by 120,000, well below analysts' predictions of more than 200,000. In the prior three months, the department said employment had risen by an average of 246,000 jobs per month.

Private-sector job gains were seen in manufacturing, financial services, professional and business services, food services and drinking places, and health care. Employment losses occurred in retail, while construction, government and wholesale trade remained little changed.

The number of American who have been out of work for 27 weeks or more, known as the long-term unemployed, remained relatively unchanged at 5.3 million, accounting for 42.5 percent of the unemployed.