Unemployment in the US rose in March to 5%

01.04.2016

In the US, the number of jobs in the economy increased in March by 215 000 as showed by Ministry of Labor data.

The experts interviewed by Bloomberg expected an increase of 205 000.

Employment growth in February was revised to 245 000 from the previously announced 242 000. However, the revision of the January-February has reduced the number of employees in the country by 1000.

Unemployment in the US in March rose to 5% from February's 4.9%, which is the lowest level since February 2008. Analysts did not expect changes in the rate.

High rates of job creation in the US are is a signal of employers’ confidence that the US economy will cope with the weakening of global growth.

The average hourly wage in the United States increased by 0.3% last month compared to February and by 2.3% compared to March 2015. Analysts expected a salary increase by 0.2% the previous month and by 2.2% in annual terms.

Employment growth in the US in February was supported by the increase in the number of jobs in the construction, up 37 000, while in the manufacturing sector experienced a decline in the employment, down 29 000.

The share of population in the labor force increased to the highest level since March 2014: 63% versus 62.9% in the second month of the year.

The average workweek in the United States in March remained at the level of 34.4 hours.

The index of business activity in the US manufacturing sector (PMI) from ISM rose more than expected last month. This is evidenced by industry statistics released on Friday. According to the report prepared by the Institute for Supply Management (the ISM), the indicator (seasonally adjusted) was 51.8 compared with 49.5 in the previous month. The experts had expected a growth to 50.7.

The car sales in the USA rose less than expected in last month. According to the report prepared by research firm Autodata Corp., the indicator (seasonally adjusted) was 16.57M compared to 17.54M the previous month. Experts had expected a growth to 17.60M.

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