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U.S. Payrolls Rise Below-Forecast 103,000 as Wages Pick Up

  • Unemployment rate holds at 4.1% for sixth straight month
  • Average hourly earnings rise 2.7% from a year earlier
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Bill Gross, fund manager at Janus Henderson, discusses the March jobs report and wage growth.(Source: Bloomberg)
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U.S. hiring cooled in March following a strong February while wages picked up, returning labor-market progress to a more sustainable pace that keeps the Federal Reserve on track for further interest-rate increases.

Payrolls rose 103,000, compared with the median estimate of economists for 185,000, after an upwardly revised 326,000 advance, Labor Department figures showed Friday. The jobless rate was 4.1 percent for a sixth month, bucking forecasts for a decline, while average hourly earnings increased 2.7 percent from a year earlier, matching projections.