Home Business US Economy Adds 215,000 Jobs in March 2016

US Economy Adds 215,000 Jobs in March 2016

According to the latest figures released by the Labor Department, the US economy has created 215,000 jobs in March 2016, a little less than it did in the last month when 242,000 jobs were created.

The unemployment rate has risen to 5% from 4.9%, which was an eight-year low.

According to the Labor Department, more Americans were finding jobs, which suggested a sign of confidence in the US economy.

Photo Getty Images

Photo Getty Images

The increase could allow a cautious Federal Reserve to raise interest rates gradually this year.

The US economy is continuing to create jobs, despite a global economic slowdown and cheap oil prices which have hit the energy sector.

The gains were in the service sectors, especially retail, health and education and leisure and hospitality. There were also new jobs in government and construction.

The unemployment figures for January and February have been revised slightly down to show 1,000 fewer jobs created than previously reported.

Financial markets have almost priced out the likelihood of a rate rise at the Fed’s June policy meeting.

A survey from CME FedWatch suggests a 47% chance of an increase in November, with 57% suggesting it would happen in December.

Clyde is a business graduate interested in writing about latest news in politics and business. He enjoys writing and is about to publish his first book. He’s a pet lover and likes to spend time with family. When the time allows he likes to go fishing waiting for the muse to come.