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- Nonfarm payrolls increase above expectations in March
Nonfarm payrolls increase above expectations in March
The U.S. Labor Department announced on Friday that nonfarm payrolls increased by 196,000 in March after an upwardly revised 33,000 gain in the prior month (originally an increase of 20,000).
According to the report, employment rose notably in health care (+49,000 jobs) and in professional and technical services (+34,000).
At the same time, the unemployment rate remained at 3.8 percent in March.
Economists had forecast 180,000 new jobs and the jobless rate to stay at 3.8 percent.
The labor force participation rate edged up to 63.0 percent in March from 62.9 percent in February, while hourly earnings for private-sector workers rose 0.1 percent m-o-m (4 cents) to $27.70, following an unrevised 0.4 percent m-o-m gain in February. Economists had forecast a 0.3 percent m-o-m advance in the average hourly earnings. Over the year, average hourly earnings have increased 3.2 percent.
The average workweek increased by 0.1 hour to 34.5 hours in March, matching economists’ forecast.
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