Unemployment rate steady

Friday, April 4, 2003 | 9:57 a.m.

WASHINGTON -- U.S. companies slashed 108,000 jobs in March following huge cuts the month before as war in Iraq battered the economy at home. But the overall civilian unemployment rate held steady at 5.8 percent.

Job losses were widespread last month, with few hiring gains, the Labor Department reported today.

Analysts had expected job cuts of about 40,000. In February businesses cut 357,000 positions from their payrolls, more than previously reported.

The unemployment rate, which remained unchanged, has hovered around 6 percent since November 2001.

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