facebook
twitter
rss
account
search
search
 

U.S. economy adds 192,000 jobs in March; unemployment rate holds steady

The March jobs report was keenly awaited, as it was expected to give clean data regarding the effect of the harsh winter on the labor market.
By Ananth Baliga   |   April 4, 2014 at 10:20 AM   |   Comments

| License Photo
WASHINGTON, April 4 (UPI) -- The U.S. economy added 192,000 jobs in March, showing steady improvement in the labor market, but still short of the rebound analysts were expecting.

The 192,000 gain was below the 206,000 estimate reported by analysts polled by Bloomberg, but the unemployment rate held steady at 6.7 percent. While the increase in jobs was lower than Wall Street expectations, it is still closer to the monthly average for job growth since the beginning of 2013. Last year, the U.S. added 194,000 jobs each month on average after 186,000 in 2012.

“This is a very good report,” said Nariman Behravesh, chief economist at IHS Inc. in Lexington, Mass. “It looks like we’re back on track.”

Employment figures for January and February were both higher than earlier estimated, suggesting the effect on the labor market due to the harsh weather wasn't as bad as expected. The revision added 37,000 jobs for the first two months of the year.

Analysts have been looking to the March jobs report to provide clean data about the labor market and the effect of the harsh winter. Weak jobs figures in the last few months has been blamed on the harsh winter weather which affected hiring in most sectors.

Increases were seen in construction, retail and professional services, whereas government employment remained flat.

[Bureau of Labor Statistics]
[Bloomberg]

Follow @antbaliga and @UPI on Twitter.
Contact the Author
© 2014 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
Most Popular
1
Tesla could face sales ban in Michigan Tesla could face sales ban in Michigan
2
Early completion of refit of Italian aircraft carrier Early completion of refit of Italian aircraft carrier
3
Europe must drop the euro, Germany abandon mercantilism Europe must drop the euro, Germany abandon mercantilism
4
British Reaper UAVs join the fight against Islamic State British Reaper UAVs join the fight against Islamic State
5
Russia doesn't fear Azeri gas, scholar says Russia doesn't fear Azeri gas, scholar says
Trending News
Around the Web
x
Feedback