US adds mere 88,000 jobs in March

THE US labour market was much weaker than expected in March, with the economy adding only 88,000 jobs, a third of the number in February.

Official data released on Friday shows job creation slumped to its weakest level since June 2012, and was far below the 192,000 jobs analysts had on average expected.

The total number of unemployed was little changed at 11.7 million.

The unemployment rate dipped to 7.6 per cent from 7.7 per cent in February as more people dropped out of the workforce, the Labor Department reported.

The March jobless rate was the lowest since December 2008. Most analysts had expected it would hold unchanged at 7.7 per cent.

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