Washington, – The US unemployment rate fell to its lowest in almost a decade in March, despite the economy adding a smaller than expected number of jobs.
Employers added 98,000 jobs last month – far fewer than the 180,000 expected by economists and less than half the figure for January and February, the Labor Department has said.
However, the unemployment rate fell from 4.7% in February to just 4.5% – the lowest since May 2007. Anything under 5% is considered to indicate “full employment”.
The economy needs to create 75,000 to 100,000 jobs a month to keep pace with growth in the working-age population.
The US had added more than 200,000 jobs in both January and February, but March brought lower temperatures and a major storm to the North East, which was likely to have hit hiring. (QNA)
Source: Qatar News Agency