US unemployment hits two-year low

Washington: The US economy added more jobs than forecast in March and the unemployment rate unexpectedly declined to |a two-year low of 8.8%, a sign the labour-market recovery is gathering speed.

Payrolls increased by 216,000 workers last month after a revised 194,000 gain the prior month, the Labor Department said in Washington. Economists projected a March gain of 190,000, according to the median estimate in a Bloomberg News survey. The jobless rate dropped from 8.9% in February, the fourth straight decrease.