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| Version 0 | Version 1 |
|---|---|
| US job creation slows but unemployment stays low | US job creation slows but unemployment stays low |
| (32 minutes later) | |
| The jobs boom in the US slowed last month but the unemployment rate remained low, official figures show. | |
| Employers added 236,000 jobs in March, close to expectations, as bars and restaurants led the hiring. | Employers added 236,000 jobs in March, close to expectations, as bars and restaurants led the hiring. |
| The number of new jobs created is below February but at 3.5%, the jobless rate remains near historic lows. | The number of new jobs created is below February but at 3.5%, the jobless rate remains near historic lows. |
| The data is being closely watched for signs of slowdown as the US central back raises borrowing costs to stabilise soaring prices. | The data is being closely watched for signs of slowdown as the US central back raises borrowing costs to stabilise soaring prices. |
| The increase in wages also eased, with average hourly earnings rising by 4.2% over the year to March. This is below the 4.6% increase in February. | |
| The US Federal Reserve has been lifting interest rates to cool the rate of price rises, or inflation. | |
| However, the labour market has proven stubbornly resilient. | |
| Employers have added more than 330,000 jobs monthly on average over the last six months - far more than economists say is necessary to keep up with population gains - and job openings have outstripped the workers available. | |
| Analysts said other indicators suggested conditions may be starting to change, noting job declines in the construction, manufacturing and retail sectors. | |
| "Overall, while the headline gain was a little stronger than we had expected, it's still the smallest monthly gain since December 2020," said Andrew Hunter, deputy chief US economist for Capital Economics. | |
| A number of large companies including consultancy Accenture, entertainment giant Disney and fast food chain McDonalds have announced job cuts in recent weeks. | |
| Related Topics | Related Topics |
| US economy | US economy |
| Employment | Employment |