The U.S. unemployment rate dipped to 8.2 percent in March, its lowest level since January 2009 following a monthly gain of 120,000 new jobs, the Labor Department reported recently.
Still, the 120,000 new jobs fell below expectations and were significantly fewer than the past few months. March marked the first month since November where the employment figures did not top the 200,000 mark, according to MarketWatch.
The news source reported some economists had anticipated a dip in the number of jobs added during the month due to the unseasonably warm winter weather, which caused employers to begin hiring earlier.
"In recent months, concerns had been raised that seasonal adjustments had been overstating reported job creation," Jim Baird, chief investment strategist at Plante Moran Financial Advisors, told the news provider. "Today’s report suggests those concerns may have been legitimate."
According to The Associated Press, many economists remained optimistic despite the weaker-than-expected job gains. In particular, they pointed to strong employment growth at factories, restaurants and hotels.