US added modest 103K jobs in March, rate stays 4.1%

US employers add 103000 jobs in March, fewest in 6 months

After reporting a substantial increase in USA employment in the previous month, the Labor Department released a report on Friday showing job growth slowed by much more than anticipated in the month of March.

The March jobs report is out and it's a miss.

The job market whiffed on expectations in March, according to a new jobs report from the Bureau of Labor Statistics, turning in its worst performance in six months.

The March employment report is a continuation of the proposition posed by the February report - can indicators of the "real" economy reflect strengths, while headlines portend economic headwinds?

Nonfarm payrolls probably increased by 193,000 jobs last month, according to a Reuters survey of economists.

Even sectors that posted gains, such as manufacturing, healthcare and mining, saw job creation slow while government hiring was negligible. Average hourly earnings rose 0.3 percent after increasing 0.1 percent in February. 'Overall, looking through the volatility, employment growth is trending higher and wage growth is starting to heat up'.

Most economists still expect Fed policymakers to raise short-term interest rates twice more this year to try to keep inflation under control.

"Rather than remedy its misconduct, China has chosen to harm our farmers and manufacturers", Mr. Trump said, adding that he had instructed the United States trade representative to determine whether tariffs on an additional $100 billion in goods were warranted and, "if so, to identify the products upon which to impose such tariffs".




The labor force participation rate edged down a tenth of a point to 62.9 percent.

Still, through the first three months of the year, employers have added an average of 202,000 workers to payrolls, outpacing 2017's average monthly growth of 182,000. Last year, employment increased by 128,400, which is equivalent to nearly 500 new jobs, on average, per working day.

The U.S. labor market is still very tight despite some bumpy economic news over the last month.

That's a much smoother experience than in 2013, when he was unemployed for four months after a layoff. The 3-month average for monthly payroll growth prior to February's blockbuster was 210 thousand, which implies, if the labor force holds at 63 percent, a 4 percent unemployment rate.

ADP reported private sector employment increased by 241,000 jobs in March.

The biggest jobs gains occurred in manufacturing, health care and white-collar jobs with 22,000 manufacturing positions created.

Employment declined by 13,000 in general-merchandise stores, with a 7.9 drop in department stores, offsetting last month's gains. Business services gained 33,000.

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