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Hiring rebounds as US employers add a solid 196,000 jobs

The unemployment rate remained at 3.8%, near the lowest level in almost 50 years, the Labor Department reported Friday.

Posted: Apr 5, 2019 8:46 AM

WASHINGTON (AP) — Hiring in the United States rebounded in March as U.S. employers added a solid 196,000 jobs, up sharply from February's scant gain and evidence that many businesses still want to hire despite signs that the economy is slowing.

The unemployment rate remained at 3.8%, near the lowest level in almost 50 years, the Labor Department reported Friday. Wage growth slowed a bit in March, with average hourly pay increasing 3.2% from a year earlier. That was down from February's year-over-year gain of 3.4%, which was the best in a decade.

The employment figures reported Friday by the government suggest that February's anemic job growth — revised to 33,000, from an initial 20,000 — was merely a temporary blip and that businesses are confident the economy remains on a firm footing. Even with the current expansion nearly 10 years old, the U.S. economy is demonstrating its resilience.

At the same time, the economy is facing several challenges, from cautious consumers to slower growth in business investment to a U.S.-China trade war that is contributing to a weakening global economy.

Stock futures rallied after Friday's jobs data was released at 8:30 a.m., and bond prices rose as well, with yields slipping.

So far this year, U.S. job gains have averaged 180,000 a month, easily enough to lower the unemployment rate over time, though down from a 223,000 monthly average last year.

Last month, job growth was strongest in the service sector. Health care added 47,000 jobs, restaurants and bars 27,000 and professional and business services, which includes such high-paying fields as engineering and accounting, 37,000.

Manufacturers cut 6,000 jobs, marking their first decline in a year and a half. The weakness stemmed from a sharp drop in employment at automakers, likely reflecting layoffs by General Motors. Construction firms added 16,000.

The overall economy is sending mixed signals. Most indicators suggest slower growth this year compared with 2018. That would mean hiring might also weaken from last year's strong pace.

Consumers have shown caution so far this year. Retail sales fell in February, and a broader measure of consumer spending slipped in January, potentially reflecting a waning effect of the Trump administration's tax cuts. Businesses have also reined in their spending on industrial machinery and other equipment and on factories and other buildings.

And in Europe and Asia, weaker economies have reduced demand for U.S. exports. Europe is on the brink of recession, with its factories shrinking in March at the fastest pace in six years, according to a private survey.

The U.S. trade war with China has weighed on the Chinese economy, which has hurt Southeast Asian nations that ship electronic components and other goods that are assembled into consumer products in China's factories.

Economists now forecast that the U.S. economy will expand roughly 2% to 2.5% this year, down from 2.9% last year.

Some positive signs for the economy have emerged in recent weeks: Sales of both new and existing homes rose in February after declining last year. More Americans are applying for mortgages now that rates have fallen.

And some of the weakness in spending earlier this year likely reflected delays in issuing tax refunds because of the government shutdown. Refunds largely caught up with their pace in previous years in March, economists at Bank of America Merrill Lynch said, suggesting that spending may as well.

Minnesota Coronavirus Cases

Data is updated nightly.

Confirmed Cases: 40767

Reported Deaths: 1533
CountyConfirmedDeaths
Hennepin13054790
Ramsey5127233
Dakota257094
Stearns248119
Anoka2360111
Nobles16766
Olmsted123518
Washington122840
Mower9742
Rice8738
Scott8234
Clay60138
Kandiyohi5871
Blue Earth5442
Wright5165
Carver4421
Todd4022
Sherburne3445
Lyon3322
Freeborn3090
Watonwan2450
Steele2431
Benton2353
St. Louis21816
Nicollet19112
Martin1725
Cottonwood1380
Goodhue1388
Winona13615
Le Sueur1191
Pine1110
Crow Wing11012
Chisago1051
Otter Tail1041
McLeod990
Dodge970
Carlton890
Polk863
Unassigned8638
Isanti800
Chippewa791
Waseca750
Douglas690
Itasca6912
Murray680
Pipestone674
Meeker621
Morrison621
Faribault610
Becker570
Jackson570
Sibley572
Pennington530
Beltrami430
Brown432
Renville372
Mille Lacs362
Wabasha350
Fillmore310
Rock310
Yellow Medicine310
Houston290
Swift291
Grant240
Norman210
Redwood210
Roseau210
Wilkin213
Cass192
Big Stone170
Koochiching171
Kanabec161
Wadena160
Aitkin150
Lincoln130
Marshall120
Pope120
Clearwater100
Mahnomen101
Stevens100
Hubbard80
Lake60
Traverse60
Lac qui Parle40
Red Lake40
Kittson20
Cook10
Lake of the Woods00

Iowa Coronavirus Cases

Data is updated nightly.

Confirmed Cases: 34080

Reported Deaths: 742
CountyConfirmedDeaths
Polk7196182
Woodbury331744
Black Hawk245759
Buena Vista173311
Johnson14058
Linn136683
Dallas136531
Marshall108019
Scott100210
Dubuque91822
Story8515
Pottawattamie80612
Wapello71431
Muscatine68544
Crawford6793
Sioux4970
Tama48229
Wright3971
Louisa36513
Plymouth3455
Webster3454
Jasper33717
Warren3111
Dickinson2953
Cerro Gordo2661
Washington2499
Hamilton1981
Boone1641
Clay1481
Clarke1433
Allamakee1384
Clinton1301
Shelby1200
Mahaska11917
Carroll1101
Poweshiek1108
Bremer1067
Pocahontas1061
Franklin1040
Des Moines1002
Emmet950
Cedar941
Henry933
Hardin890
Cherokee821
Taylor810
Monona780
Marion770
Floyd762
Benton741
Guthrie734
Jones690
Osceola660
Sac650
Butler642
Buchanan621
Jefferson620
Calhoun612
Iowa611
Humboldt591
Hancock581
Harrison580
Delaware561
Fayette560
Jackson560
Lee542
Madison532
Monroe517
Lyon500
Clayton483
Palo Alto480
Grundy470
Mills470
Winneshiek450
Mitchell440
Davis421
Kossuth410
Union380
Howard370
Lucas344
Winnebago330
Greene300
Chickasaw290
Cass270
Unassigned270
Ida230
Keokuk231
Worth220
Appanoose213
Van Buren210
Page200
Adair170
Audubon161
Ringgold151
Decatur130
Montgomery112
Wayne110
Fremont100
Adams80
Rochester
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