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Financial News: U.S. Employment Rises Less Than Expected In March

U.S. Employment Rises Less Than Expected In March

04/06/2018 - 08:41:00 (RTTNews)

(RTTNews) - After reporting a substantial increase in U.S. employment in the previous month, the Labor Department released a report on Friday showing job growth slowed by much more than anticipated in the month of March.

The Labor Department said non-farm payroll employment rose by 103,000 jobs in March after spiking by an upwardly revised 326,000 jobs in February.

Economists had expected an increase of about 193,000 jobs compared to the jump of 313,000 jobs originally reported for the previous month.

The report also said the unemployment rate came in at 4.1 percent in March, unchanged from the two previous months. The unemployment rate had been expected to edge down to 4.0 percent.

Meanwhile, the Labor Department said the annual rate of growth in average hourly employee earnings accelerated to 2.7 percent in March from 2.6 percent in February.

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