U.S Unemployment Rate Remains Unchanged at 3.8 Percent

The unemployment rate held firm last month at 5.8 per cent according to Statistics Canada

The unemployment rate held firm last month at 5.8 per cent according to Statistics Canada

NATIONAL REPORT-The U.S. economy added 196,000 jobs in March, and the unemployment rate is unchanged at 3.8%, according to a report from the U.S. Bureau of Labor Statistics.

On the establishment side, health care was the largest contributor to job growth, adding 49,100 jobs.

"However, employment growth does still look a little strong on an annual basis relative to the pace of GDP growth, suggesting further sluggish jobs numbers could be on the horizon which would augur against a rate hike this year as well".

While the number of people working part-time for economic reasons rose slightly from the recovery low hit in February, it is down by nearly 10 percent from its year-ago level.

"The 7K drop in employment comes on the heels of huge job gains in January-February". The unemployment rate was unchanged at 5.8 percent, as expected. For the March 2018, the accuracy is also plus or minus one percentage point while that for February is plus or minus 1.1 percentage point, both also 34 times out of 50.

Stats Canada said in a year, there has been an increase of 9,200 full time jobs and 800 part time jobs. Computer systems design added 12,000 jobs during the month.

Labour force numbers, which had been rising strongly along with jobs, also declined slightly in March, down by 11,300. In the 12 months prior to February, manufacturing had added an average of 22,000 jobs per month.

By comparison, in 2000, when the unemployment rate averaged 4.0 percent, the percentage due to voluntary quits averaged 13.7 percent.

The service sector saw the biggest gains in employment.

Employment in other major industries, including mining, wholesale trade, retail trade, transportation and warehousing, information technology, financial services, and government showed little change over the month.

Within healthcare, ambulatory healthcare services assumed its usual position as the top hirer, adding 27,000 jobs in March, up 27% from February.

Employment has been one of the most-resilient areas of an economy that has shown signs of slowing down in recent months.

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