U.S. employment increased solidly in March and wages rebounded, signs of economic resilience that could allow a cautious Federal Reserve to gradually raise interest rates this year.
Nonfarm payrolls increased 215,000 last month, the Labor Department said on Friday. Data for January and February was revised slightly down to show 1,000 fewer jobs created than previously reported.
Average hourly earnings increased seven cents. While the unemployment rate rose to 5.0 percent from an eight-year low of 4.9 percent, it was because more Americans continued to return to the labor force, a sign of confidence in the jobs market.
