The Non-Farm Payroll showed an increase of 216,000 jobs in March and was even more optimistic than Wednesday’s ADP report of a 201,000 increase. The official unemployment rate fell by one tenth to a two-year low of 8.8 percent.
The private sector accounted for all the new jobs in March, adding 230,000 positions after February’s 240,000 increase. Government employment fell 14,000, declining for a fifth straight month as local governments let go 15,000 workers.
“Employment gains have been modest in recent months, so in that sense I think businesses that were initially very wary of taking on permanent full-time employees are feeling more confident now than was case some months ago,” said Richard DeKaser, an economist at Parthenon Group in Boston. “As a result they are more willing to make those kinds of long-term commitments.”
Source: Reuters