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- U.S. unemployment rate rises to 5.0% in March, 215,000 jobs are added
U.S. unemployment rate rises to 5.0% in March, 215,000 jobs are added
The U.S. Labor Department released the labour market data on Friday. The U.S. economy added 215,000 jobs in March, exceeding expectations for a rise of 205,000 jobs, after a gain of 245,000 jobs in February. February's figure was revised up from a rise of 242,000 jobs.
The increase was driven by rises in retail trade, construction, and health care.
The retail trade added 47,700 jobs in March, while the manufacturing sector shed 29,000 jobs.
Construction added 37,000 in March, while mining sector shed 12,400 jobs.
The U.S. unemployment rate rose to 5.0% in March from 4.9% in February. Analysts had expected the unemployment rate to remain unchanged at 4.9%.
Average hourly earnings increased 0.3% in March, beating forecasts of a 0.2% gain, after a 0.1% decline in February.
The labour-force participation rate increased to 63.0% in March from 62.9% in February.
As the U.S. labour market continues to strengthen, the Fed could raise its interest rate gradually this year.
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