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Unemployment rate drops to two-year low as employers add 216,000 jobs to payrolls

Unemployment drops to two-year low

Unemployment drops to two-year low

It was a good month for jobs in the month of March, so good that the unemployment rate dipped to a level it hasn't seen in two years.

According to numbers released by the Labor Department, the economy added 216,000 jobs last month, with retailers, manufacturers, health care facilities, factories and financial service offices, among others, increasing their employee staff.

In an interview with the Associated Press, Sal Guatieri, an economist with BMO Capitlal Markets, said this is a real indication of the economy being on the mend.

"The U.S. labor market is finally making some serious progress. No fooling," Guatieri told the source.

With more people back to work, it would seem to indicate the housing market will progress as well. Recent numbers released from Standard & Poor's found that home prices in February fell in more than half of the major metropolitan regions tracked by the company when compared to last year. Low prices are good for buyers, but it sometimes leads to people putting off their moving plans because they assume home values will further decline.