Unemployment Rate Drops to 9 Percent, 80,000 Nonfarm Payroll Jobs Added
Nevertheless, the committee increased its unemployment forecast to 8.5 to 8.7 percent in 2012 from its previous outlook of 7.8 to 8.2 percent.
Bronars said he had expected a "disappointing" jobs report, but certain sectors have fared better than others. The economy continues to see gains in business and professional service jobs, up 562,000 in the past year, and health care, up 313,000 in the past year.
Construction continues to lag and manufacturing is sluggish given all the jobs that were lost in the downturn, Bronars said.
"I don't see any evidence that this is when the job market is going to start taking off, but you never know," he said. "We haven't seen any increase in the labor force at all in the last year."
Bronars said the economy needed to add another 10 million jobs to return to prerecession employment levels.
"We haven't made a dent in this yet," he said.
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