Employment stats heighten US recession fears

According to the US Bureau for Labour Statistics, jobs in the US economy fell for the third successive month in March. Non-farm payroll decreased by 80,000 during the month, which followed a 76,000 reduction in February. The decline was far in excess of analysts' expectations of 50,000 job losses. The unemployment rate rose from 4.8pc to 5.1pc; its highest since September 2005. Ian Kernohan, economist at Royal London Asset Management, said: "March payrolls confirm what we've already known for weeks; that the US economy has entered a recession which is likely to be as deep as that in t...