U.S. Economy Adds 126,000 Jobs in March
Posted on April 3, 2015
The U.S. economy added just 126,000 jobs in March. This was much lower than the job reports for January and February. The unemployment rate remained unchanged at 5.5%.The March report was a shocker to analysts. It was only half of what analysts had been expecting. CNBC reports that economists on average were expecting the economy to add 245,000 jobs. The jobs reports for February and January were also revised lower.
Industries adding jobs in March included professional and business service, which added 40,000 jobs, and health care, which added 22,000 jobs. Retail trade added 26,000 positions and food services added 9,000. Industries losing jobs included mining which lost 11,000 jobs.
Fox Business contributor Bob Rice says the aggregate number of work hours in the economy fell last month. He says the job data indicates that the average wage growth fell for 83% of American last month. Take a look: