US Job Growth Shows Positive Trend In March
Despite rising recession fears, the U.S. labor force remains quite resilient with the March increase in jobs relative to expectations.
The Bureau of Labor Statistics reported that nonfarm payrolls in the US increased by 236,000, slightly higher than 230,000 consensus market estimate.
The U.S. unemployment rate fell to 3.5% in March, beating market consensus calls for a 3.6% reading.
January's employment data were revised slower at 472,000, down from 504,000 in the previous estimate.
February's
employment data were revised slower at
326,000
, down from
311,000
in the previous estimate.
The average hourly wage rose 0.3% or nine cents to $33.18 an ounce last month.
Wages have increased 4.2% in the last 12 months, according to a report