The nation's unemployment rate edged down to 8.2 percent in March from 8.3 percent in February, but only 120,000 jobs were added to private and public payrolls the Bureau of Labor Statistics said this morning in a report that was less positive about the labor market's health than economists had expected.
Prior to the news, forecasters had predicted BLS would say about 200,000 jobs were added to payrolls last month.
The morning's major news, if all goes as planned, will be the 8:30 a.m. ET release of the March jobs and unemployment data from the Bureau of Labor Statistics.
According to Reuters, economists expect we'll hear that the unemployment rate stayed at 8.3 percent and that private and public employers added about 200,000 jobs to their payrolls. The jobless rate's recent peak was 10 percent, in October 2009.
President Obama signed the Jumpstart Our Business Startups (or JOBS) Act into law Thursday, legislation meant to make it easier for entrepreneurs to get investor financing that helps them add workers. Does that mean it will be harder for Republicans to frame Obama as anti-jobs?
"Well, if it works, it will make it harder," said Craig Shirley, a longtime conservative political strategist and writer who runs a Washington, D.C.-area public-affairs firm.