Employment in the U.S. Increases in March and Unemployment Drops

There is good news today for those currently unemployed in the U.S.  According to Reuters, employment grew for the second month in a row in March and the unemployment rate dropped from 8.9 percent to 8.8 percent, which is a two-year low.

In March, nonfarm payrolls grew 216,000, which according to the Labor Department was the biggest increase since last May.  February of this year, another 194,000 positions were added.

Since November, the unemployment rate has gone down one full percentage point.

The job market is definitely showing signs of recovery, but still has a long way to go, according to Julia Coronado, a senior economist at BNP Paribas in New York.

According to economists, continual growth of 250,000 to 300,000 jobs a month is necessary to have a big impact on the about 13.5 million Americans that are currently unemployed.