Kyle Bell

The American economy is bouncing back. The Labor Department reported that 162,000 jobs were added in the month of March, the highest number in three years. It also marks the third month since November to post job gains, a strong sign that the recession is ending and that employers are looking to hire again. The unemployment rate peaked at 10.6 percent in October and has since come down to 9.7 percent.

President Obama was careful not to overstate the progress that the country has made in the past year. “I’ve often had to report bad news during the course of this year, as the recession wreaked havoc on people’s lives. But today is an encouraging day,” Obama told workers at Celgard LLC, an advanced battery technology manufacturer in Charlotte, N.C.

“This month, more Americans woke up, got dressed and headed to work in an office, a factory, a storefront,” the president said. “More folks are feeling the sense of pride and satisfaction that comes with a hard-earned and well-deserved paycheck.” President Obama credited the stimulus package for the recovery that the country is experiencing. Just a year ago when Obama took office, instead of gaining jobs, the country was shedding nearly 800,000 a month.