JUST IN: US economy added 196,000 jobs jobs in March, bouncing back after weak February data. - NBCNewsBusiness
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The unemployment rate remained steady at 3.8 percent, still the lowest level in almost 50 years, but wages increased by 0.14 percent for the month and 3.2 percent year on year. While the economy gained an average of 225,000 jobs a month last year, the February jobs report set off alarm bells — despite assertions from the White House that the number was a fluke due to the five-week-long partial government shutdown and weather-related issues. Analysts had been predicting 175,000 jobs gained for March.
"A good March report shows that February was more of an outlier than a canary in the coal mine," said Steve Rick, chief economist at CUNA Mutual Group.
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