Nonfarm Payrolls Fell By 80,000 In March

The Labor Department reported that jobs declined more than expected in March. Nonfarm payrolls fell by 80,000, the largest drop in five years, and more than the estimate of a 50,000 job decline. The unemployment rate, increased from 4.8% to 5.1%, higher than the forecast of 5.0%. Wage pressures remained steady as average hourly earnings grew 0.3%.More from Bloomberg...