The unemployment rate climbed in March to 5.7 per cent, the highest since December, from 5.5 per cent in February. US economists had expected a rise in the jobless rate to only 5.6 per cent.
The US economy churned out new jobs at a moderate rate in March, but the unemployment rate rose two-tenths of a percentage point, the US government said today. That rise suggests the labour market is lagging the rapid pace of growth elsewhere in the economy.
The Labor Department said the number of workers on US payrolls grew by 58,000 in March, a slightly larger increase than the 41,000 projected by economists.
But the number appeared far less impressive in light of a huge downward revision to February payrolls. February payrolls fell by 2,000 - a far worse showing than the 66,000 gain it estimated a month ago.
The Deparment did not give an explanation for the substantial revision to February's payrolls number.