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March Jobs Report Below Projections

Friday, 6 Apr 2012 | 8:30 AM ET

The non-farm payroll number for March is up only 120,000 vs. 240,000 (revised) in February, reports CNBC's Hampton Pearson. The number is far below expectations of 203,000, with Mark Zandi, Moody's Analytics; Rebecca Patterson, JPMorgan Asset Management, Institutional; Diane Swonk, Mesirow Financial; Austan Goolsbee, University of Chicago; and CNBC's Steve Liesman, Joe Kernen and Rick Santelli. Private sector jobs were up 121,000 vs. 233,000 in February. The unemployment rate was 8.2 percent in March vs. 8.3 percent in February. And the average workweek in March was 34.5 hours in March vs. 34.6 hours in February.