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

Associated Press

WASHINGTON

Hiring in the U.S. 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 percent, 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 percent from a year earlier. That was down from February’s year-over-year gain of 3.4 percent, 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 remains resilient and is expected to grow at a steady pace this year.