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[City A.M.]

Employment in US surges after weak February but wage growth slows

The US created 196,000 new jobs in March in a marked improvement from February's dramatic slowdown, it was revealed today.

Employment in US surges after weak February but wage growth slows

However, wage growth slowed to 3.2 per cent in March compared to a year earlier after growing 3.4 per cent in February, mixed US economic data released today by the Bureau of Labor Statistics (BLS) showed.

Total non-farm payroll employment – an important gauge of the health of the American economy – rose in March from an unexpectedly low figure of 33,000 in February.

Economists had been expecting a figure of 180,000. The March jobs figures were much closer to the average gain of 223,000 jobs per month in 2018 than the low February figures.

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Centtrip chief analyst Stephen Hubble said: “Today’s non-farm payroll release shows that the freak number in February was just that – a freak – and that the US labour market continues to be a beacon in a world consumed with trade tensions and concerns over decelerating economic growth.”

Read the article in full: City A.M.

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