Employers created 103,000 jobs in March missing expectations while the unemployment rate remained steady at 4.1%. It was the lowest number of jobs created since last fall.
That’s below the 313,000 jobs reported in February, which was the most in more than a year and a half. February’s unusual advance was seen as a result of relatively mild weather, a phenomenon that wasn’t expected to repeat in March.
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Analysts polled by Thomson Reuters forecast 193,000 new nonfarm payrolls, and the unemployment rate falling to 4%.
March unemployment held at 4.1%, whereas analysts expected a decline to 4%. Worker pay edged higher, with hourly wages up 0.3%, to $26.82.
The gains marked the 90th consecutive month that U.S. companies increased employment.