The WSJ asks and answers Why Did the Unemployment Rate Drop? "The key to the drop in the broader unemployment rate was due to a 447,000 drop in the number of people employed part time but who would prefer full-time work, that comes on top of big drops in that category over the past year. That number could decline for negative reasons, such as workers completely dropping out of the labor force, but it also could be a positive reflection of people having their hours increased or part-time workers moving on to full time work."
Jared Bernstein doesn't know what to think yet. March Jobs Report, First Impressions and Jobs Report, Take #2
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