Economy: 230,000 Jobs Added in March

Private employers, the backbone of the economy, drove nearly all of the gains last month, adding 230,000 new jobs. This comes on top of the 240,000 added in February and was the first time private hiring topped 200,000 in back-to-back months since 2006. There was good news about unemployment numbers too, as the unemployment rate dipped from 8.9 percent in February to 8.8 percent in March. The rate has fallen a full percentage point over the last four months, the sharpest drop since 1983. Charlie Herman, economics editor for The Takeaway and WNYC Radio, analyzes the news.