The participation rate, or share of working-age peoplein the labor force, decreased and faces continued downward pressureas older workers retire. (Photo: Shutterstock)
(Bloomberg) –U.S. hiring rebounded more than forecast in Marchand the prior month was stronger than first reported, potentiallyrelieving some concerns about a cooling economy. Wage gains eased and the unemployment rate heldnear a 49-year low.
Payrolls rose
Payrolls rose 196,000 after a 33,000 advance, a Labor Departmentreport showed Friday. The median estimate in a Bloomberg survey sawan increase of 177,000 after an initially reported 20,000 gain inFebruary. Treasury yields pared their gains briefly, but recoveredto pre-report levels. U.S. stock futures advanced.
The jobless rate was unchanged at 3.8 percent, while averagehourly earnings increased 3.2 percent from the prior year, belowall estimates and down from the best pace of the expansion.
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