Unemployment rate reaches 4 and a half year low

According to the article, 211,000 U.S employees have gained jobs in March; therefore, the unemployment rate unexpectedly went down to a 4 and half year low of 4.7 percent. However, the government said it carefully keeps watching for potential inflation pressure because the pace of hiring was not only stronger than what analysts expected, but analysts also expected the unemployment rate to stabilize at 4.8 percent in February.

The Labor Department cut down hiring of new employees to 225,000, less than the expected 243,000 in February while new jobs totaled 154,000 instead of 170,000 in January. Not all sectors hired more employees; manufactory employment decreased by 5,000 jobs in March after reducing 10,000 in February and transportation industries decreased 7,900 jobs in March. Hiring in service businesses jumped to 202,000 in the last month after increasing 191,000, while goods-producing industries increased payrolls mostly by 9,000 employees in March, fewer than the 31,000 new hires in February.