The unemployment rate usually declines in the spring. Accor
ding to our estimates, the number of jobseekers decreased at the end of March by 17,400 and the unemployment rate dropped to 7.3 – 7.4% from 7.7% in February. Yes, this was due in part to the higher temperatures and the greater rate of building activity, but even if this winter hadn't produced this strength in employment in seasonally sensitive sectors of the economy, the fast growth of the overall economy has been the clear contributor to the strength being seen in the labor market. There are almost 105 thousand vacancies, which is an unheard of number during the last 10 years. In April, or in May at the latest, the unemployment rate should dip under 7%, where it is expected to stay for the rest of the year.