The Labor Department says employers added 117,000 jobs last month. That's an improvement from the past two months.This is how Obama plans to get unemployment down to 8% by election time, apparently.
The mild gain may ease investors' concerns after the Dow Jones industrial average plummeted more than 500 points over concerns that the U.S. may be entering another recession.
Still, the economy needs twice as many net jobs per month to rapidly reduce unemployment. The rate has topped 9 percent in every month except two since the recession officially ended in June 2009.
The unemployment rate fell partly because some unemployed workers stopped looking for work. That means they are no longer counted as unemployed.
Of course in a few weeks the number will be quietly revised in all likelihood.