Stock market gains early Friday morning were wiped out by noon, before another rally ensued. A better-than-expected jobs report gave some analysts hope that another recession could be averted.
The United States added 216,000 new jobs in March, mostly in the private sector job market, driving the unemployment rate down to 8.8 percent.
Not only did the unemployment rate fall, but the US economy added 192,000 jobs in February. But economists view the numbers differently.
Unemployment rate dropped from 9.4% to 9.0% last month, according new Labor Department statistics. But only 36,000 new jobs were created. Where did the rest of the unemployed go?
Unemployment rate rose to 9.8 percent, as US economy gained a disappointing 39,000 jobs last month, versus 172,000 in October. The news may prod Congress toward more stimulus spending.
Layoffs are at their highest rate since 2003. A leaner holiday season is more likely.