U.S. employment growth accelerated from a 17-month low in March as milder weather boosted hiring in certain sectors via ReutersTV
Growth forecasts for the first quarter are between a 1.4 percent and 2.1 percent annualized rate. The economy grew at a 2.2 percent rate in the fourth quarter, stepping down from the July-September quarter’s brisk 3.4 percent pace.Average hourly earnings increased by 0.1 percent in March after jumping 0.4 percent in February. That lowered the annual increase in wages to 3.2 percent from 3.4 percent in February, which was the biggest gain since April 2009.
The unemployment rate was unchanged at 3.8 percent in March, close to the 3.7 percent that Fed officials project it will be by the end of the year. Though monthly job gains have moderated to an average of 180,000 this year from 223,000 in 2018, they remain above the roughly 100,000 per month needed to keep up with growth in the working-age population.
Employment at construction sites rebounded by 16,000 jobs in March after falling by 25,000 in February. Leisure and hospitality sector payrolls accelerated by 33,000 jobs last month, driven by a 27,300 increase at restaurants and bars.
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