The U.S. added more jobs than expected, but unemployment ticked up.
Transcript:
The March jobs report has been released and it revealed a bit of a mixed bag. The U.S. added 228,000 jobs last month according to the Bureau of Labor Statistics. That’s almost double what was added in February, and roughly 90,000 more than what was expected.
However, the unemployment rate ticked up to 4.2%, a bit higher than the anticipated 4.1%.
The health sector led the way in March with 54,000 jobs added. Both retail and social assistance added 24,000 jobs, while the transportation and housing sectors added 23,000.
Federal government jobs decreased by just 4,000 — but the BLS says that workers who have been furloughed or are on severance count as employed. A new report from job placement firm Challenger, Gray & Christmas revealed there have been more than 275,000 layoffs related to the Department of Government Efficiency.
That’ll do it for your daily briefing. From New York City, I’m Kelsey Barberio with TheStreet.
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