The American economy received some positive news as data showed that the U.S. job growth remained strong in March too, after February got a big boost in terms of job growth.
Non farm payrolls increased by 205,000 in March, and this supplements an increase of 242,000 jobs that came in February. As a result of this growth, the unemployment rate remained at a constant 4.9 percent, which is the lowest rate in the last eight years, according to data released by the US Labor Department.
Also, the first-time applications for unemployment benefits are at the lowest levels, last seen in 1973.
These numbers show the strength of the economy, despite fears of another global slowdown. In fact, data shows that the economy grew by 1.4 percent during the fourth quarter of last year, and this signals that all is fine with the US economy.
This increase in jobs is also heartening because the manufacturing sector had taken a beating after a robust growth in the value of US dollar. The creation of more jobs mean there has been little layoff in the manufacturing sector during the last three months, and this is good news for Americans.
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