U.S. Adds 192,000 Jobs in March
According to the Bureau of Labor Statistics, the U.S. added 192,000 jobs in March and the unemployment rate held at 6.7%. This time last year the unemployment rate was 7.5%.
Newly installed Federal Reserve Chair Janet Yellen said in a speech earlier this week the central bank isn’t likely to start raising interest rates until the unemployment rate falls to a range of 5.2% to 5.6%. At that point, inflation would become a concern because a tighter job market would mean higher wages and consequently higher consumer prices.