(MENAFN- The Peninsula) The US generated half the number of jobs expected last month, a downturn that has spurred worries over the strength of the world's largest economy.
Here are the key points of the US Labor Department's March jobs report.
- Just 126,000 net new jobs created, compared to 264,000 in February, After averaging 287,000 a month in the year through February, the first quarter average fell to 197,000.
- Manufacturers and government authorities shed jobs, and the plunge in oil prices led to a loss of 11,000 positions in the mining sector. The service sector added 142,000 jobs, compared to 244,000 in February.
- The unemployment rate held at 5.5 percent, the lowest since April 2008. But behind that was a rise in the number of people leaving the labor force and those forced to work part-time
- Wages rose 0.3 percent from February, a positive sign. But year-on-year wages were up a modest 2.1 percent, and hours worked in a week actually fell slightly from February, pulling down net incomes.
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