March Unemployment Numbers Released

By Maureen Mespell

April 6, 2012 Updated Apr 6, 2012 at 1:26 PM EST

Friday's job numbers reflect the ups and downs of this economy's stubborn recovery.

As ABC'S TJ Winick reports, although more people went to work last month than the month before... it was less than predicted, disappointing many.

Economists are warning, though, not to place too much significance on an individual month, but look instead to the trend.

Despite March's pullback, the U.S. has added over 800,000 jobs since December.

Even with the stock market closed for the holiday...it was hardly a Good Friday for the monthly jobs report. It was revealed employers added 120 thousand jobs in March...far fewer than expected. It means the pace of hiring has slowed significantly.

Julia Coronado from BNP Paribas says, "It also means the unemployment rate hardly budged...it's now at 8 point two percent. Even before this morning's disappointing numbers...the Dow Jones dropped 4 straight days this week.

As investors have renewed fears about the European debt crisis and a lack of action by the Federal Reserve. But there was good news this week as well. The number of Americans filing for unemployment - the lowest since April ' 08- the depth of the recession.

Gautam Godhwani, Co-Founder of Simplyhired.com says, "We're certainly seeing more men than women and that's simply because the jobs that have traditionally employed men, those industries coming back."

That means more men hired in manufacturing, automotive and retail. In Chattanooga, Tennessee the Volkswagen plant announced 800 new jobs.

Hans-Herbert Jagla, Vice President of Human Resources Chattanooga Operations says, "These new team members will allow us to extend our weekly production capacity while reducing the amount of overtime that we work."

Another encouraging sign, a new survey shows 30% of employers now say they are planning to hire full time workers in the next 4 months.




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