98,000 jobs added in March; unemployment rate dropped to 4.5%

Nonfarm payrolls have risen by a seasonally adjusted 98,000 in March, a slowdown from the previous 2 months. However, the unemployment rate dropped 0.2 of a percentage point to 4.5% as the number of employed workers grew more quickly than the labor force, pushing the measure to its lowest levels since May 2007.