Growth in hourly pay slows a bit after reaching a 10-year high
By Jeffry Bartash Reporter |
Employees take a break, but not for long. The U.S. added 196,000 new jobs in March, showing the labor market still has plenty of punch even though the economy has slowed.
The numbers: The U.S. created 196,000 new jobs last month after a swoon in February, an encouraging gain that hints growth in the economy is ready for a revival.
Hiring increased in most major segments of the economy, most notably health care and white-collar firms. The flush of new jobs kept the unemployment rate near a 50-year low of 3.8%, the Labor Department said.
The rebound in hiring might temper unease about the economy after a rocky start in 2019. Although a spate of large companies have announced layoffs recently, most firms are still looking to hire. One of their chronic complaints: A shortage of skilled labor.
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