PiCK

U.S. March nonfarm payrolls rise 178,000, far exceeding forecasts

Source

Uk Jin

Summary

The U.S. Department of Labor said March nonfarm employment increased by 178,000, far exceeding the market forecast.
The March unemployment rate came in at 4.3%, below economists’ estimate of 4.4%, and fell 0.1 percentage point from the previous month.
March average hourly wages rose 3.5% from a year earlier, 0.2 percentage point below the 3.7% forecast.

Forecast Trend Report by Period

U.S. employment data for last month came in well above market expectations.

The U.S. Department of Labor said on the 3rd (local time) that March nonfarm employment increased by 178,000 from the previous month. That is far above the market forecast (65,000). Compared with the revised February figure (-133,000), it is higher by 311,000.

The March unemployment rate was 4.3%, 0.1% point below economists’ estimate (4.4%). It was also down 0.1% point from the previous month’s unemployment rate (4.4%).

Average hourly wages in March rose 3.5% year on year. That is 0.2% point below the forecast (3.7%).