US Unemployment Rate Drops to 7-year Low

The U.S. unemployment rate fell to a nearly seven-year low of 4.5 percent in March.

Friday’s report from the Labor Department also said the economy had a net gain of just 98,000 jobs for the month.

The jobless rate fell two-tenths of a percent, surprising most economists, who had also predicted stronger job gains.

Job gains were found in professional and business services and mining, while retail lost positions.

While the report shows that the total number of unemployed Americans fell by over 300,000, there are still 7.2 million people out of work across the country.  

 

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