Daily Economic Indicator: Labor market gains strength

After several weeks of data that didn't tell us much, the March employment report finally confirmed that the U.S. economy is really recovering and that the labor market is gaining strength, according to The Economist. Government hiring continues to decline, but private-sector employers more than made up for public-sector shrinkage. Excluding agriculture, total payrolls increased 216,000 and unemployment fell modestly to 8.8%. "This report is solidly positive for the economy: bit by bit the pieces of recovery are falling into place," the magazine noted.

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