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U.S. Economy Added Just 103,000 Jobs in March
The U.S. added fewer jobs in March than expected, registering a net gain of 103,000. That number still allowed the economy to record its 90th consecutive month of growth.
The Bureau of Labor Statistics reported that the unemployment rate remained unchanged at 4.1%. The average hourly earnings for all employees on private nonfarm payrolls rose 8 cents in March to $26.82, which comes after a three-cent bump in February.
BLS’ William J. Wiatrowski noted “over the past 12 months, average hourly earnings have risen by 2.7%.”
January’s numbers were revised downward from a gain of 239,000 to 176,000. February’s initial report of 313,000 jobs, the biggest increase in 1½ years, was revised upwards, to a gain of 326,000.
Following revisions for January and February that decreased nonfarm payroll employment by 50,000 jobs, monthly employment gains have now averaged 202,000 over the past three months.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Economy
