The U.S. economy hit a key milestone in March as it restored all the jobs lost during the recession and continued its steady, moderate improvement, analysts said.
"I thought it was a pretty positive report," said Robert Murphy, an economics professor at Boston College. "It showed what we've been seeing, steady gains in jobs."
The Bureau of Labor Statistics yesterday said 192,000 jobs were added to the workforce, a month after 197,000 jobs were added.
While not eye-popping numbers, the last two months are confirmation, experts said, that the slowdown at the end of last year was due to snow and cold temperatures that hit all over the country.
"It's not a blockbuster report, but certainly good enough to encourage people that the temporary slowdown over the winter months was weather related," said Nigel Gault, co-chief economist of the Parthenon Group. "We're getting back on track here."
Still, some were hoping for a stronger month.
"This is hardly the catch-up number anticipated from months of pent-up demand," said Lindsey Piegza, chief economist of Sterne Agee, in a report. "And at sub-200K, employment continues to fall short of the levels seen in October and November 2013, undermining confidence in reestablishing above-trend momentum in hiring."
A Bloomberg survey of 90 economists projected an increase of 200,000 jobs.
Last month, the number of total private sector jobs in the country rose to 116.1 million, the first time in six years it has been above the pre-recession peak of 116 million.
"It's an interesting side-note, and it's a commentary on how far we dropped and how long it's taken us to come back, but it doesn't really mean much," Gault said.
The population has increased since the downturn, though, and many public sector jobs have not been recovered.
"It in no sense gets us back to where we were," Gault said.
Also in yesterday's report, 500,000 more people were either employed or looking for work. Gault said that increase may mean people are more optimistic about their job prospects.
"The fact that the number of people in the labor force went up was comforting," Murphy said.
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