U.S. economy rebounds in March after February slowdown

The U.S. economy found its feet again in March, as the Labor Department reported Friday that businesses created 196,000 jobs last month, with the national unemployment rate remaining at a historically low level of 3.8 percent. Strong job gains took place in health care, as well as in professional and technical services.

Job gains in February - which were originally reported at 20,000 - were revised upwards to 33,000, still making that the second slowest month of job creation during the Trump Administration.

For the second month in a row, manufacturing sectors were surprisingly sluggish, as they lost 6,000 jobs, after a 1,000 job increase in February.

Payroll employment increases by 196,000 in March; unemployment rate remains at 3.8% https://t.co/NsuHovcqn0 #JobsReport #BLSdata
— BLS-Labor Statistics (@BLS_gov) April 5, 2019

The U6 jobless rate - considered the broadest measure of unemployment in the United States - remained at 7.3 percent in March, the lowest point since March of 2001.

Average wages continued to tick up slowly, hitting $27.70 in the month of March.

“Over the past 12 months, average hourly earnings have increased by 3.2 percent,” the Labor Department reported.

President Trump hailed the numbers as he spoke to reporters Friday morning at the White House.

“Our country is doing unbelievably well economically,” the President said before he left for a visit to the U.S-Mexican border.

“Most of you don't report that,” Mr. Trump told reporters.

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About the Author

Jamie Dupree