Market Overview

Unemployment Rate Ticks Higher While Nonfarm Sector Adds More Jobs Than Expected, Private Sector Disappoints

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U.S. equity indices were nearly flat after 90 minutes of trading on Friday as the unemployment rate ticked higher but the nonfarm sector added more jobs than expected.

The Dow Jones and Nasdaq indices were higher by 0.11 percent and 0.16 percent, respectively. At the same time, the S&P 500 index was lower by 0.06 percent.

Government data showed on Friday that the U.S. unemployment rate for March ticked higher to 5.0 percent from a previous 4.90 percent. The data proved to be disappointing as the consensus estimate was calling for the unemployment rate to remain unchanged at 4.90 percent.

Government data also showed that U.S. nonfarm employers added 215,000 jobs in March, exceeding the 205,000 figure analysts were expecting.

On the other hand, private payrolls for March showed 195,000 jobs were created, short of the 197,000 analysts were expecting and also marking a decrease from the prior reading of 230,000.

Posted-In: Nonfarm Payroll payroll Unemployment RateNews Econ #s Intraday Update

 

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