US economy adds 127,000 jobs in March – Bloomberg

Businesses are boosting hiring amid a broader recovery in the United States and a growing trade deficit, with more companies investing in manufacturing, energy, consumer goods and finance.

The U.S. economy added 127,200 jobs in the month, the Labor Department said Wednesday, reversing a monthly decline and boosting the economy by an annualized rate of 2.6 percent.

It marked the second consecutive month the economy added more than 125,000 private sector jobs, up from a monthly gain of 122,000.

The jobs growth is also the best pace since March 2014, when the economy expanded by more than 300,000 people.

Economists had expected a contraction of 127,100 jobs, which would be the second-biggest monthly loss since March 2015.

The manufacturing sector, which accounts for about a third of total employment, added 13,900 jobs in February, a gain of about 6,300 jobs from the previous month.

Energy and finance added 14,700 jobs.

The manufacturing jobs report was among the strongest in two years, though it came after a strong February and a surge in retail sales.

In February, retail sales increased by more that 100,000 for the first time since the recession.

As the recovery continues, the unemployment rate remains at 4.1 percent.

It has declined below 5 percent for nearly two years and has remained at below 6 percent since April 2010.

In addition to the retail sales gains, the economy gained employment in manufacturing.

Manufacturing is a key part of the U.s. economy, providing about a quarter of jobs, and has been a strong contributor to the economy since the financial crisis.

Businesses are increasingly investing in new technology to boost productivity and boost efficiency.

The company McKinsey & Co. estimates that the economy will add about 1.2 million jobs over the next five years, up nearly 14 percent from a year ago.

Employment is expected to rise for the second straight month.

The latest jobs report comes a day after the Federal Reserve announced that it will buy $50 billion in bonds from bond giant UBS.