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U.S. Economy Grows, Unemployment Down

Strong business hiring last month brought the unemployment rate down to its lowest level in two years, the U.S. government has reported.

The economy gained 216,000 jobs in the month. That’s better than the gain of 180,000 predicted by economists surveyed by CNNMoney, and also a significant improvement over the 194,000 jobs added in February.

“Almost two years after the recession officially ended, the labor market appears to finally be picking up,” said Kathy Bostjancic, director of macroeconomic analysis for The Conference Board.

The unemployment rate continued to edge down, dropping to 8.8%, the lowest level since March 2009. The unemployment rate has shed a full percentage point in the last four months, the largest four-month drop since 1984.

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