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US jobs growth slows in March US jobs growth slows in March
(35 minutes later)
US employers added fewer jobs than expected in March, with the economy adding 103,000 posts last month.US employers added fewer jobs than expected in March, with the economy adding 103,000 posts last month.
The figure from the Labor Department was below analysts' expectations of about 193,000, and the dollar weakened against major currencies as a result.The figure from the Labor Department was below analysts' expectations of about 193,000, and the dollar weakened against major currencies as a result.
March's figure was a sharp slowdown from the 326,000 jobs that were created in February.March's figure was a sharp slowdown from the 326,000 jobs that were created in February.
The unemployment rate remained unchanged at 4.1%.The unemployment rate remained unchanged at 4.1%.
Manufacturing and health care firms drove the hiring, while most industries saw little change. The construction sector shed jobs.
Analysts said weather may have contributed to the slowdown in job creation, which had been expected to some degree after February's blockbuster gains.
The low unemployment rate may also be making it hard to find workers, they said.
The average hourly wage for private sector workers was $26.82 in March, up 2.7% from a year ago.