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U.S. jobless rate at 2-year low

04 April 2011 08:59 (UTC +04:00)

Baku - APA-Economics. The U.S. unemployment rate unexpectedly dropped to a two-year low of 8.8 per cent in March as employers created more jobs than forecast, adding to evidence of a recovery in the labour market, Edmont Journal reported.

Payrolls rose by 216,000 workers in March after a gain of 194,000 in February, the Labor Department said Friday. Economists projected a March increase of 190,000, according to the median estimate in a Bloomberg survey. A separate report Friday showed U.S. manufacturing expanded at close to the fastest pace in seven years.

"We have sustained economic growth in the U.S.," said John Silvia, chief economist at Wells Fargo Securities in Charlotte, N.C.