Unemployment Rate Jumps to 5.1 Percent

The unemployment rate rose from 4.8 to 5.1 percent in March, the Department of Labor reports. The job market shrunk as 80,000 payroll jobs were cut - the most in five years. Over the past 3 months, payroll employment has declined by 232,000. 

In March, employment continued to fall in construction, manufacturing, and employment services, while health care, food services, and mining added jobs.  Average hourly earnings rose by 5 cents, or 0.3 percent, over the month.