US economy adds 88K jobs, rate drops to 7.6 pct.
WASHINGTON - April 5, 2013 (WPVI) -- U.S. employers added just 88,000 jobs in March, the fewest in nine months and a sharp retreat after a period of strong hiring. The slowdown is a reminder that the job market's path back to health will be uneven.
The Labor Department says the unemployment rate dipped to 7.6 percent from 7.7 percent. While that is the lowest in four years, the rate fell only because more people stopped looking for work.
The weakness may signal that companies were worried last month about steep government spending cuts that began on March 1.
March's job gains were half the pace of the previous six months, when the economy added an average of 196,000 jobs a month. The drop raises fears that the economy could slow after a stronger winter.
- Cab driver shot outside Hunting Park nightclub
- AccuWeather: Tracking a Wintry Weekend
- WATCH: Action News Online
- 2013 Troop Greetings
- Suspects wanted for carjacking, abduction in Glenside 4 min ago
- Man critically injured in Camden County crash
- 4 shot outside Delaware nightclub
- More of US expected to see snow, sleet, ice
- Pearl Harbor ceremonies marks bombing anniversary
- Teacher says he was fired because he is gay
- 2nd suspect surrenders in Christmas package theft
- Temple University cuts 7 intercollegiate sports
- Residents displaced after high-rise fire
- NKorea says it deported US tourist and war vet