The U.S. economy added 126,000 jobs in March, as the unemployment rate lingered at 5.5 percent, the Bureau of Labor Statistics reported Friday. Via Huffington Post
More from the AP:
WASHINGTON (AP) — The weakening U.S. economy spilled into the job market in March as employers added only 126,000 jobs — the fewest since December 2013 — snapping a streak of 12 straight months of gains above 200,000.
The Labor Department said Friday that the unemployment rate remained at 5.5 percent.
Friday’s jobs report raised uncertainties about the world’s largest economy, which for months has been the envy of other industrialized nations for its steadily robust hiring and solid growth.
U.S. employers appear wary about the economy, especially as a strong dollar has slowed U.S. exports, home sales have stagnated and cheaper gasoline has yet to unleash more consumer spending.
Some of the weakness may prove temporary: An unseasonably cold March followed a brutal winter that slowed key sectors of the economy.
Last month’s subpar job growth could make the Federal Reserve less likely to start raising interest rates from record lows in June, as some have been anticipating. The Fed may decide that the economy still needs the benefit of low borrowing costs to generate healthy growth.
Reflecting that sentiment, government bond yields fell Friday after the news of disappointing job growth. The yield on the U.S. 10-year Treasury note fell to 1.84 percent from 1.90 percent before the announcement. U.S. stock markets are closed in observance of Good Friday.