3 Apr 2015
US economy added 126K jobs in March – Non-farm payrolls report
FXStreet (Mumbai) - The labor department data in the US released today showed the US economy added only 126K jobs in March, which is significantly lower than the consensus estimate of 245K. The previous month’s figure was revised lower to 264K from the initial estimate of 295K.
The unemployment rate in March stayed unchanged at 5.5% as expected, while the labor force participation rate dropped to 62.7% in March from 62.8% in February. Meanwhile, the average hourly earnings rose to 0.3% year-on-year in March, compared to 0.2% growth seen in February.
Apart from the rise in the average hourly earnings, the payrolls report is disappointing.
The unemployment rate in March stayed unchanged at 5.5% as expected, while the labor force participation rate dropped to 62.7% in March from 62.8% in February. Meanwhile, the average hourly earnings rose to 0.3% year-on-year in March, compared to 0.2% growth seen in February.
Apart from the rise in the average hourly earnings, the payrolls report is disappointing.