US unemployment drops to 8.2 percent in March

WASHINGTON - Agence France-Presse

In this March 7, 2012, file photo shows job seekers standing line during the Career Expo job fair, in Portland, Ore. AP photo

US unemployment dropped unexpectedly to 8.2 percent in March, the lowest rate in more than three years, despite a mixed picture on new hiring and weakness in the retail sector.

The economy created 120,000 new jobs last month, much lower than the 200,000 forecast, but the rate ticked down from the 8.3 percent recorded in February.