The U.S. economy added 120,000 jobs in March, and the unemployment rate fell to 8.2 percent, in the best four months of hiring since before the recession.
This comes a day after President Obama signed his JOBS Act, the Jumpstart Our Business Startups Act, which aims to ease access to money for small businesses and startups and also helps entrepreneurs find investors through online “crowdfunding,” allowing all Americans to invest in new companies.
The Labor Department released the new data saying the economy added 120,000 jobs in March, down from more than 200,000 in each of the previous three months.
The numbers breakdown like this:
March Unemployment Breakdown: Men 7.6%; Women 7.4%; Whites 7.3%; Blacks 14.0%; Hispanics 10.3%; Asians 6.2%; Teens 25.0%
The economy has added 858,000 jobs since December - the best four months of hiring in two years. But Federal Reserve Chairman Ben Bernanke has cautioned that the current hiring pace is unlikely to continue without more consumer spending.
As for President Obama, an improving job market only helps him in his re-election campaign as this year's election is expected to hinge on the state of the economy.