Weak March Jobs Report

Not a good sign for the economy. CNBC reports:

U.S. payrolls rose far less than expected in March, keeping the door open for further monetary policy support from the Federal Reserve, even as the unemployment rate fell to a three-year low of 8.2 percent.

The slowdown in employment growth last month likely reflected the fading boost from unseasonably warm winter weather. It supported the caution on the labor market from Fec Chairman Ben Bernanke last week.

Bernanke expressed doubts the recent job gains could be sustained, and March's weak report was in line with expectations that economic growth slowed to an annual pace of 2 percent in the first quarter from the 3 percent rate in the October-December period.

Alan Krueger, chairman of the Council of Economic Advisers, said in a blog post that the construction sector is continuing to suffer from housing-market weakness, but said "manufacturing continues to be a bright spot."

While the unemployment rate fell to its lowest level since January 2009, that was mainly because some people gave up the search for work.

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published this page in In The News 2012-04-06 10:00:00 -0400
Analysis & Political Strategy