March’s job report saw an increase of 98,000 nonfarm jobs, according to the U.S. Bureau of Labor Statistics’ monthly employment report. Jobs gains were in professional and business services and in mining. Retail trades lost jobs.
Over the past three months, job gains have averaged 178,000 per month.
March’s unemployment rate declined to 4.5%, down from 4.7% in February. The civilian labor force participation rate remained unchanged at 63.0%.
The report found that in March, average hourly earnings for employees on private, nonfarm payrolls increased by 5 cents to $26.14. Over the year, average hourly earnings have risen by 2.7%