U.S. job growth rebounds in March, but wage gains slow GlobeBusiness
. The Labor Department’s closely watched monthly employment report on Friday also showed a mild upward revision to February’s meagre job gains.
The employment report added to fairly upbeat construction spending and factory data that led Wall Street banks to boost their growth estimates for the first quarter. Average hourly earnings increased by four cents, or 0.1 per cent in March after jumping 0.4 per cent in February. Though job gains have moderated from an average of about 223,000 in 2018, they remain above the roughly 100,000 per month needed to keep up with growth in the working-age population.
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