Business

US unemployment rate at 10-year low

WASHINGTON The US unemployment rate fell last month to 4.5 per cent, its lowest level in nearly 10 years, but job creation tumbled unexpectedly, government data showed yesterday.

After months of pumping out new jobs at a steady clip, the world's largest economy added only 98,000 net new positions last month, the Labor Department reported - a figure far below analyst expectations.

Central bank policymakers have been split over the amount of slack in labour markets and the dangers of inflation.

March's contrasting figures could support the views of some Federal Reserve members who say the US is at or near full employment.

The monthly job creation figure was nevertheless the weakest since May 2016 and blunted the surging numbers seen in January and February- AFP

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