Economics
U.S. Payrolls Top Estimates With 196,000 Rise as Wages Cool
- Average annual wage gains slow to 3.2%, missing all estimates
- Jobless rate holds steady as factory employment posts a drop
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U.S. hiring rebounded more than forecast in March and the prior month was stronger than first reported, potentially relieving some concerns about a cooling economy. Wage gains eased and the unemployment rate held near a 49-year low.
Payrolls rose 196,000 after a 33,000 advance, a Labor Department report showed Friday. The median estimate in a Bloomberg survey saw an increase of 177,000 after an initially reported 20,000 gain in February. Treasury yields pared their gains briefly, but recovered to pre-report levels. U.S. stock futures advanced.