Job creation in the United States posted a solid rebound in March.
The monthly U.S. Bureau of Labor Statistics report showed non-farm payrolls expanding by 196,000 and the unemployment rate holding steady at 3.8% -- better than the 175,000 Dow Jones estimate and comes after a dismal February that had economists wondering whether the decade-old economic expansion was nearing an end. The unemployment rate met expectations.
The report went on to say wage gains fell off the recent strong pace, increasing just 0.14% for the month and 3.2% year over year, below expectations of the 3.4%pace from last month. The average work week increased by 0.1 hour to 34.5 hours.
A broader gauge of unemployment that also counts discouraged workers and those holding part-time jobs for economic reasons also was unchaged at 7.3%. The measure, known as the "real unemployment rate" is down from 7.9% a year ago.
The numbers came a month after February's jaw-dropping gain of just 20,000, which was revised up to 33,000 in the March report. January's big increase of 311,000 also got pushed up a nudge to 312,000, bringing the average gain over the past three months to 180,000. That's still solid though below the 233,000 average monthly gain for all of 2018.
