(WASHINGTON) — U.S. employers added 120,000 jobs to their payrolls in March, falling short of expectations, the Labor Department reported on Friday. Economists had predicted the economy would add over 200,000 positions last month.
Excluding government layoffs and hiring, 121,000 workers were added.
In a positive sign for the jobs market, the unemployment rate fell one tenth of a percent in March to 8.2 percent. That dip exceeded economists’ expectations, who said the figure would remain at 8.3 percent where it had been for several months.
Investors will have to wait until Monday to see how the news fares in the stock markets. Trading is closed on Friday in observation of Good Friday.
Copyright 2012 ABC News Radio
Puja Bhattacharjee, CNN
Robert Mclean, CNN
Heather Kelly, CNN