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Economy added 162,000 jobs in March

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The U.S. economy added 162,000 jobs in March, its largest gain in three years, the federal government reported today.

The unemployment rate, however, remained at 9.7 percent for the third straight month.

The latest jobs report is certainly good news for the Obama administration, which is eager to show that the president’s economic stimulus package has had a positive effect. President Obama will be in Charlotte today visiting a battery manufacturing plant and will no doubt trumpet the latest data.

The Labor Department said March job gains were the most since the recession began, but the number was below analysts' expectations of 190,000.

Private employers added 123,000 jobs, the government said. The total also included 48,000 temporary workers hired for the U.S. Census.

Among the major worker groups, the unemployment rates for African Americans remained stubbornly high at 16.5 percent.

The unemployment rates for other groups were:

Whites: 8.8 percent
Hispanics: 12.6 percent
Asians: 7.5 percent
Adult men: 10 percent
Adult women: 8.0 percent
Teenagers: 26.1 percent
 

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May 24, 2012
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