Analysts Jobs Report Deceiving

04.06.12 | Jeremy Miller

unemployment line

The economy added fewer jobs last month than economists expected, and the nation's unemployment rate was down slightly to eight-point-two percent.  The latest figures from the Labor Department show that 120-thousand jobs were added in March.  The modest job-creation figure is well short of the 200-thousand new jobs economists had been forecasting.  Twelve-point-seven-million Americans were out of work last month, about the same number as in February.  The number of people unemployed for 27 weeks or longer, the so-called long-term unemployed, was unchanged at five-point-three-million. President Obama welcomed the news today, but analysts say he shouldn't be so quick to embrace the latest numbers. Economic experts say the main reason the unemployment rate fell slightly was because many Americans have become frustrated and have given up the search for a job. The jobs report only includes those actively searching for work.