- U.S. Creates 103,000 Jobs in March
U.S labor market created fewer jobs than expected in March, the Labor Department showed on Friday.
Employers added 103,000 jobs in March following an upwardly revised 326,000 jobs reported in February. Economists had predicted 185,000 jobs.
The unemployment rate remained unchanged at 4.1 percent for a sixth consecutive month, while average hourly earnings surged 2.7 percent year-on-year.
Experts expect consistent low unemployment and improved wage growth to support consumer spending and further aid inflation.
“The labor market is continuing to strengthen, and we haven’t seen a material shift in that,” Sam Bullard, senior economist at Wells Fargo Securities LLC, said before the report. Even when there’s a weak payroll number in one month, “the Fed and the markets are going to look through it.”
The U.S dollar declined against the Euro to $1.2272.