The economy created 192,000 jobs in March, better than during the depths of winter at the end of 2013 and the beginning of this year, but still short of the labor market rebound many experts had been hoping to see.þþContinue reading the main storyþRELATED COVERAGEþþAbe Gorelick, 57, lost his position at a large marketing firm last March. He is now working three jobs.Out of Work, Out of Benefits, and Running Out of OptionsAPRIL 3, 2014þThe unemployment rate remained flat at 6.7 percent. The Labor Department revised upward its estimate of job creation of January and February by 37,000 total.þþWhile the monthly gain of 192,000 jobs in March was below the 200,000 increase Wall Street had been looking for, it is almost exactly in line with the overall monthly average for job gains since the beginning of 2013.þþThe latest numbers suggested that while the economy was still failing to gain the kind of escape velocity that experts and policy makers had long sought, it was not falling into the rut that some pessimists feared was developing this year.þþThe increase in jobs was paced by gains in construction, retail and professional services. Government employment remained flat.þþBecause of the question of the role played by weather, the data for March had been eagerly awaited. Some experts said it was the first month of so-called clean data since the fall, arguing that cold and snow inhibited hiring in crucial sectors like construction and retailing as 2013 drew to a close and the new year began.þþIndeed, analysts had been surprised by just how lackluster the pace of hiring was in previous months, but had been turning cautiously optimistic in recent weeks as other signals like initial claims for unemployment looked more encouraging.þþ
Source: NY Times
