Job gain of just 126K in March
- March Nonfarm Payrolls: +126K vs. consensus +245K, +264K previous (revised from 295K).
- Unemployment rate: 5.5% vs. 5.5% consensus, 5.5% previous.
- More on jobs miss: Revisions slice 69K from previous numbers
- In addition to the miss on jobs in March (126K added vs. estimates for 245K), February's gain of 295K was revised lower to 264K, and January's 239K gain was cut to 201K - total downward revisions of 69K. Over the last three months, job gains have averaged 197K per month.
- The average workweek slipped 0.1 hour to 34.5 hours. Average hourly earnings rose $0.07 to $24.86. Year-over-year, they're higher by 2.1%.
- The labor force participation rate slipped to 62.7% in March from 62.8% previously. A year ago it was 63.2%.
- The broader U-6 unemployment rte fell to 10.9% in March from 11%. One year ago it was 12.6%.
- Previously: Job gain of just 126K in March (April 3)
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