Unemployment Rate Falls to 7.6% in March

Posted at 9:49 AM, Apr 05, 2013
and last updated 2013-04-05 09:49:30-04

WASHINGTON, D.C – Hiring slowed sharply in March, with the economy adding only 88,000 jobs. That’s the lowest monthly gain since last June.

The unemployment rate slipped to 7.6%, according to a Labor Department report, but it was not good news because nearly 500,000 people dropped out of the labor market.

Economists were expecting an increase of 190,000 jobs in March, and they had expected the unemployment rate to hold steady at 7.7%.