US Employment Numbers Add 215.000 In March

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Source:   —  April 01, 2016, at 4:49 PM

The solid jobs figures add to the picture of a resilient economy and expectations of more US interest rate hikes later this year.

US Employment Numbers Add 215.000 In March

US employment rose by 215.000 latest mo while salary rebounded, official figures showed.

The closely-watched non-farm payrolls figures from the US labour dept pointed to a resilient economy that could authorize the US Federal Reserve to expand interest rates further this year.

March'south employment rise was a small better than that expected on average by economists. Hourly salary rose by seven cents.

However there was a slight rise in the unemployment rate, from an eight-year low of 4.9%, to five% - though this was attributed to an expand in the overall size of the labour force.

Meanwhile data for Jan and Feb was revised to indicate 1.000 fewer jobs created than previously reported.

The figures arrive days after US fed chair Janet Yellen said that slowing world growth and lower oil prices posed a risk to the US economic outlook and that rate setters ought to "proceed cautiously".

America'south central bank increased interest rates by 0.25 percent latest December after seven years during which they were held at near-zero to attempt to nurse the world'south biggest economy back to health.

But the following months have seen world markets enter a period of turmoil prompting a more cautious mood among policy makers both in the US and abroad - with a in the eurozone.

Fed executive latest mo downgraded their economic growth expectations and forecast just this year - when four had previously been pencilled in.

Markit chief economist Chris Williamson said: "Another excellent mo of hiring in the US will encourage further chatter in some corners of the Fed emotional closer to hiking interest rates again.

"But signs of weakening economic growth imply policymakers are likely to be cautious and keep off until the global economy is showing greater vigour and the US economy more sparkle."

The jobs data left the pound a century lower against the US dollar - with sterling also weakened by dreary figures from the .

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