1,92,000 jobs added by US in March

The US economy reportedly added 1,92,000 new jobs in March, in line with expectations, as the unemployment rate held steady at 6.7 percent.

Although the March job figures were in line with the expected number of jobs, yet the number of people who were unemployed reportedly remained at 10.5 million.

According to the BBC, unemployment in the US did not decline as it reflects the number of people looking for work, but those who are not looking for a job are not included in the unemployment figures.

It reportedly looks like a case of solid but incomplete progress as the percentage of the working age population in work, which is at 58.9 percent, is still well below where it was before the financial crisis at the end of 2006, with the high point then being at 63.4 percent.

Economics professor at the University of Michigan Justin Wolfers said that this employment report should help put to rest the fears that the economy was stalling as US entered the New Year.

Employment has grown in health care, professional and business services and in mining and logging, the report added.