In March, the economy added 103,000 jobs while the unemployment rate held steady at 4.1% for the sixth-straight month, according to the latest data from the Bureau of Labor Statistics.
Economists had expected the report to show 185,000 jobs were created in March while the unemployment rate was expected to fall to 4%, according to estimates from Bloomberg. March’s report is also a big slowdown from the 313,000 jobs created in February and represented the fewest jobs created in six months.
Job growth in January was revised down slightly to show a gain of 176,000 jobs to start the year while February’s data were revised slightly higher, with 326,000 jobs now estimated to have been created in the year’s second month. After Friday’s numbers average jobs gains over the last three months now stand at 202,000.
Jed Kolko, chief economist at Indeed, said Friday that while March’s total job gains are fewer than expected and on the surface appear to be a disappointment, this level of job growth is “more than enough to keep up with the slow-growing working-age population.” – READ MORE
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