EMPLOYMENT TRENDS FIRST QUARTER 2006

Economic Trends

Job Growth Better Than Expected

U.S.employers added 211,000 jobs to
their payrolls in March,higher than the
190,000 economists had forecast.
In addition,the unemployment rate
dropped to 4.7%in March,down from
4.8%in February.This is the lowest level
reported in five years.

“I think the job market is on a roll,” said Bill
Cheney,chief economist at John Hancock
Financial Services in an Associated Press
article.“Businesses are doing pretty well
these days.Profits are growing nicely.I
think businesses are at a point where they
feel more comfortable adding people.”
Job gains in March were concentrated in
the services industry,specifically in pro-
fessional and business services and leisure
and hospitality.

The economy has created 2.1 million in
the past year,averaging 174,000 jobs a
month.