US JOBS REPORT MISSES EXPECTATIONS

The March U.S. Jobs Report is out.

The U.S. Bureau of Labor Statistics estimates 192,000 workers were hired to nonfarm payrolls in March, below Wall Street’s consensus forecast of 200,000. February’s number was revised up to 197,000 from 175,000.

The umeployment rate was unchanged at 6.7%, defying the consensus estimate of a tick down to 6.6%. The labor force participation rate rose to 63.2% from 63.0%.

Average weekly hours worked rose to 34.5 in March from 34.3 in February. Average hourly earnings were unchanged after posting a 0.4% advance in February, missing expectations for an additional 0.2% rise. The year-over-year growth rate ticked down to 2.1% from 2.2%.

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