Economy Adds 196,000 Jobs In March, Unemployment Rate Steady 3.8%

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The Labor Department said Friday that the U.S. economy added 196,000 new jobs in March, up sharply from February’s scant gain.

The Labor Department also said that the unemployment rate stayed at 3.8%, near the lowest level in almost 50 years.

Wage growth slowed a bit, as average hourly pay increased 3.2% from a year earlier. That is down from February’s gain of 3.4%, which was the best in a decade.

February’s disastrous number was also revised slightly higher, to 33,000.

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