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Strong US jobs market emerge after winter

The pace of hiring in March was close to market expectations, but the count for the prior two months was revised to show 37,000 more jobs were created than previously reported.

Washington |
April 5, 2014 1:38:38 am

The US labour market emerged surprisingly strong from the severe winter, with employers hiring at a brisk pace and the jobless rate holding near a five-year low.

Non-farm payrolls increased by 1,92,000 jobs last month after rising by 1,97,000 in February, the Labor Department said. The unemployment rate was unchanged at 6.7 per cent even though Americans flooded the labour market to hunt for work. “This is a nice number, one of those Goldilocks numbers that is decent but not so good that it gets fears going about interest rates,” said Peter Tuz, president of Chase Investment Counsel in Virginia. US stocks traded modestly higher, prices for US Treasury debt rose and the dollar was higher against a broad basket of currencies.

The pace of hiring in March was close to market expectations, but the count for the prior two months was revised to show 37,000 more jobs were created than previously reported.

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