Source: fivethirtyeight.com - Friday, April 03, 2015
The job market slowed down sharply in March. The question is whether it was a temporary blip or a sign of deeper trouble. Employers added 126,000 jobs last month, breaking a 12-month streak of growth over 200,000 jobs, the Bureau of Labor Statistics said Friday . The report was far weaker than most economists expected and represented the slowest pace of growth since the end of 2013. The government also revised down its estimate of January and February hiring by a combined 69,000 jobs. It’s important to keep those figures in perspective. The economy has added more than 3 million jobs in the past year, a healthy rate by any measure. The month-to-month numbers are volatile and subject to revision; it’s never a good idea to read too much into any one report. Still, Friday’s report is worrisome because it comes at a time when other economic indicators have looked shaky or even downright negative. Overall economic growth slowed down at the end of 2014, and consumer spending, foreign trade and construction spending have all started 2015 on a weak note. Earlier this week, a key reading of the manufacturing sector fell for the fifth month in a row. March’s disappointing job growth is sure to fuel fears that the recovery is losing steam. Podcast Quick Hit: Today’s Jobs Report and How It Will Get Spun Are those fears justified? The details of the jobs report send mixed signals. The unemployment rate was flat, but the labor force shrank. Hou
from Top News on RSS Feeds http://ift.tt/1DuXqbV
The job market slowed down sharply in March. The question is whether it was a temporary blip or a sign of deeper trouble. Employers added 126,000 jobs last month, breaking a 12-month streak of growth over 200,000 jobs, the Bureau of Labor Statistics said Friday . The report was far weaker than most economists expected and represented the slowest pace of growth since the end of 2013. The government also revised down its estimate of January and February hiring by a combined 69,000 jobs. It’s important to keep those figures in perspective. The economy has added more than 3 million jobs in the past year, a healthy rate by any measure. The month-to-month numbers are volatile and subject to revision; it’s never a good idea to read too much into any one report. Still, Friday’s report is worrisome because it comes at a time when other economic indicators have looked shaky or even downright negative. Overall economic growth slowed down at the end of 2014, and consumer spending, foreign trade and construction spending have all started 2015 on a weak note. Earlier this week, a key reading of the manufacturing sector fell for the fifth month in a row. March’s disappointing job growth is sure to fuel fears that the recovery is losing steam. Podcast Quick Hit: Today’s Jobs Report and How It Will Get Spun Are those fears justified? The details of the jobs report send mixed signals. The unemployment rate was flat, but the labor force shrank. Houfrom Top News on RSS Feeds http://ift.tt/1DuXqbV
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