Data shows 211,000 new jobs in the US in March

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There were 211,000 more people employed in the United States in March than there were in February, according to new numbers released on Friday. This increase in new jobs was greater than had been expected and cut the US unemployment rate from 4.8 percent to 4.7 percent despite a downward revision of 34,000 jobs from February.The Bush administration cited the new jobs as evidence of a growing economy that is benefiting the entire country. The new jobs, however, have not helped the perception of the economy by the American people. A new poll from Associated Press-Ipsos showed 59 percent of Americans disapproving of Mr. Bushs performance in relation to the economy. The new figures are not likely to have much effect on monetary policy due at least in part to this perception of the economy.Data also showed that while more people are working, most of them are not making much more money than they were in previous months. The average hourly earnings for 80 percent of the US workforce - those in production and non-supervisory positions - only saw their pay rise by 0.2 percent in March. Wages are up by 3.4 percent from a year ago and up 2.6 percent in the past six months, but they are still lower than the 3.5 percent gain in the year to February. While analysts expect real wages to begin increasing as the year continues, the gains will come from more stable energy prices rather than from a rise in their paychecks.