U.S. jobs growth slumps to 98,000 jobs in March
The economy had added more than 200,000 jobs in January and February, but hiring was helped in part by unusually high temperatures in the dead of winter.
The unemployment rate fell to 4.5% in March from 4.7% to touch the lowest level in almost 10 years. The number of people without jobs fell sharply and outstripped in the increase in the size of the labor force, the government said Friday.
Hiring was a toucher slower in the first two months of the year than previously reported, though. The government cut its estimate of new jobs created in February to 219,000 from 235,000. January’s gain was reduced to 216,000 from 238,000.
Average wages rose 0.2% to $26.14 an hour. Hourly pay increased 2.7% in the 12 months ending March 2017, down from 2.8% in the prior month. ■