Time: 11:12 p.m. CEST
Reuters reports that the U.S. employment maintain on good track, and that a number of Americans into the labor market “could restrain nascent wage gains and maintain the Federal Reserve’s cautious stance on raising interest rates.” Labor Department said, “Non-farm payrolls rose by 215, 000 last month and the unemployment rate edged up to 5.0 percent from an eight-year low of 4.9 percent.”
The new monthly job report is a point that not only the White House gain a momentum, but also it was noticed by the Hillary Clinton presidential campaign, which want to build on the “progress made,” in economy. The White House emphasized five key points on the labor market in March 2016.
In the White House blog by Jason Furman, Chairman of the council of the economic advisers says that the U.S. business have added 14,4 million jobs over 73 straight months. In the past two years, rising nominal wages, slow inflation, decline of oil prices influenced to the raise of the weekly earnings for over 40 percent.
The White House notes the progress that has been made in closing the earnings gap since the Great Recession and the work, which remains. Paid family leave and paid sick leave could better reflect the needs of working families. The state and local government, retail trade and construction added most jobs in March, while manufacturing had “a week month,” and employment in mining and logging, continued to decline, explains Furman.