Payroll growth reaches 196,000 in rebound from February low
(Worthy News) – U.S. employers brought 196,000 new employees on board in March as the labor market rebounded from a February lull.
The increase reported by the U.S. Labor Department on Friday was almost 10 times as much as the 20,000 added in February and topped even the 175,000 average estimate from economists. The unemployment rate, calculated separately, held steady at 3.8 percent and compares with a nearly 50-year low of 3.7 percent in November.
March’s gains leave average growth for the past three months at 180,000, well above the level needed to keep pace with inflation, which shows “the economy is still expanding and there are really no signs of a recession on the horizon,” Joseph Song, an economist with Bank of America, told the Washington Examiner. [ Source: Washington Examiner (Read More…) ]
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