The economy added 192k jobs in March, the Labor Department reported on Friday. Economists expected the economy to add 200k jobs, although in recent days, expectations grew for a big jump in jobs. The unemployment rate remained at 6.7%. Friday’s report was a big disappointment.
In 2013, the economy gained an average 204k jobs a month. In the last three months, however, the average gain fell to just 129k jobs a month. That rate is far below the number of jobs needed to keep pace with population growth. The March jobs’s report suggests the economy hasn’t yet recovered the growth experienced last year.