U.S. gains 103,000 jobs in March, unemployment flat at 4.1%

WASHINGTON (MarketWatch) - The U.S. created 103,000 new jobs in March to mark the smallest gain since last fall, but the latest report on employment still shows the tightest labor market in nearly two decades. The unemployment rate remained at a 17-year low of 4.1%. Economists polled by MarketWatch had expected a gain of 170,000 nonfarm jobs. Average wages rose 8 cents, or 0.3%, to $26.82 an hour. The 12-month increase in pay rose to 2.7% from 2.6%. Employment gains for the first two months of the year were revised down by a combined 50,000, the Labor Department said Friday. The government said 326,000 new jobs were created in February instead of 313,000. January's gain was reduced to 176,000 from 239,000, however.