US jobless rate near 10-year low but job creation falters

Washington

THE US unemployment rate fell in March to 4.5 per cent, its lowest level in nearly 10 years, but job creation tumbled unexpectedly, government data on Friday showed. 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 that the US is at or near full employment.