U.S. unemployment rate hits two year low

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1. April 2011 last updated to see 15: 49 GMT: U.S. group forced low-paid JobsThe U.S. unemployment rate fell to a new two year low in March by 8.8%, from 8.9% in February.

It was the fourth monthly drop in a row. The unemployment rate declined in the last four months by one percentage point.

Employer jobs 216.000 in March, the US Department of labor said, higher than the market expected.

Other economic data showed a slight dip in manufacturing in March, although largely positive report was.

The Institute for supply management's (ISM) index of national factory activity plunged to 61.2 last month of 61.4 in February.

February was the highest since May 2004. Any reading above 50 indicates growth.

U.S. and European stock markets were increased by the economic news. London, Paris and Frankfurt closed with profits of more than 1.5%, while the Dow 1% until the late afternoon.

On recovery of the main story John Mervin next New York business editor, BBC News read

With this jobs report, it seems that the economy has achieved a real turning point.

Not just a theoretical one, only of interest to economists either, but one that could actually lead to an improvement in the lives of millions of people. Because when about 200,000 new jobs per month, created then, slowly, get America back to work.

Apart from the unique setting of census workers in 2010, is four years ago in two consecutive months more than 150,000 jobs have been created.

Can the United States way from the worst finally be draw economic collapse since the great depression. But it is only a turning point. It is a long way to go. More than 13 million Americans want to work full time, it still found.

The most new jobs were in the private sector, in factories, shops and health care and education- and created several professional and financial services.

David Sloan said IFR Economics: "this [the jobs report] suggests the recovery is."

The new private sector jobs offset job losses in the public sector, mainly due to the cuts by the local government.

"Are of course good and can one hope that we continue to increase the market in the months to see", said Bernard Baumohl, Managing Director and global Chief Economist of the Economic Outlook Group.

If employers keep on job creation in this rate, how many economists expect, it will more 2.5 million new jobs in the United States by the end of the year.

"The steep decline in the unemployment rate and the solid employment growth in the last months are encouraging," said the Chairman of Council of economic advisers, Austan Goolsbee, in a post on the White House blog.

That little, but do widespread worry about to relieve, which is to make not enough jobs for the 7.5 million lost during the recession to create the economic recovery in the United States.

"As long as millions of people are looking for jobs, there are still lot of work doing the jobs replace lost in the downturn," Mr. Goolsbee confirmed.

Inflation fears that read main story analysts you further were also concerned about the possible impact of rising oil and other commodity and energy markets.

"There's a nagging concern, which may put at risk the job Outlook as energy prices to keep escalating," said Mr Baumohl.

", Is a squeeze on household spending and business investments, and one questions must be, if we see this slow the pace of hiring."

However, others to slow wage growth, which could offset the impact of higher energy and commodity prices had.

"Soft result mark yet, that underlying inflationary pressures are held back," said David Mann, regional head of research for the Americas at Standard Chartered in New York.

Earlier this week, the U.S. Department of Commerce cut unexpectedly its estimate of fourth quarter growth to an annualized rate of 2.8%, by 3.2% previously.