Saturday, April 07, 2012

Jobs recovery suffers setback in March

http://www.mcall.com/business/sns-rt-us-usa-economybre83503k-20120405,0,891005.storyhttp://www.blogger.com/img/blank.gif

FROM THE MORNING CALL

WASHINGTON (Reuters) - Employers hired far fewer workers in March than in previous months, keeping the door open for the Federal Reserve to provide more monetary support for a still sluggish economy.

The report was seized upon by Republicans hoping to make the weak economy the centerpiece of their campaign for November's presidential and congressional elections.

Even as the unemployment rate fell to a three-year low of 8.2 percent, job growth slowed to 120,000 last month, the Labor Department said on Friday, the smallest increase since October.

That was less than half the average monthly increase in the prior three months and way below the lowest estimate in a Reuters survey. Economists had expected an increase of 203,000 and the jobless rate to hold at 8.3 percent.

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