(Finance) – The much-observed data on non-farm payrolls is growing slightly less than expected, the labor market in the USA in March 2023. According to data provided by the Bureau of Labor Statistics, the unemployment rate it decreased to 3.5% from 3.6% the previous month and the consensus.
236 thousand were added jobs in the non-agricultural sectors (non-farm payrolls), after 326,000 payrolls were created in February (revised from 311,000). The employment data, more observed than the unemployment rate, is worse than market expectations which indicated an increase of 239,000 jobs.
The figure is worse than expected even in private sector: 189,000 jobs were added, against forecasts of an increase of 215,000 and compared to the revised 266,000 in February.
The employees of the manufacturing sector they fell by 1,000 units, below the consensus of +5,000, and compare with -1,000 in the previous month.
The average hourly wages they stood at $33.18, an increase of 0.3% on the month and 4.2% on the year after the +0.2% on the month and +4.6% on a year-on-year basis recorded in January. Average hourly wages are closely monitored by the Federal Reserve as a good indicator of both the health of the labor market and inflationary pressures.
(Photo: Photo by Nik Shuliahin on Unsplash )