US Adds 103000 Jobs in March, Below Forecasts

March Jobs Report: Everything You Need to Know

"Even though March was weaker than we were expecting, there is still evidence of an acceleration in the underlying pace of employment growth", Paul Ashworth, chief USA economist at Capital Economics, wrote in a note.

"The principle story as we see it is that despite above trend jobs growth in the main, the unemployment rate has been flat for six months".

Businesses added 241,000 jobs in March, with construction, manufacturing and transportation leading the growth, payroll processor ADP said Wednesday in a separate estimate.

Mining also saw an influx of 9,000 new jobs.

But in the context of self-congratulations for his recent decision to impose tariffs on aluminum imports, President Donald Trump tweeted Friday that 'Lots of money [is] coming into US coffers and Jobs, Jobs, Jobs!'

Earlier, Economists had predicted 185,000 jobs.

"Nonfarm payrolls rose 103,000 in March with the three-month average at a solid 202,000 jobs".

March Jobs Report: Everything You Need to Know
Job growth slows in March

Speaking in Chicago after the release of the jobs report, Powell said that the Fed expects the employment situation to remain strong, suggesting that the central bank will carry out its telegraphed plan to keep raising interest rates gradually, two or perhaps three more times this year.

"The question that looms large now is how trade talks will impact hiring in the second quarter", he said in a note warning of the economy "now entering a treacherous phase".

The pullback in hiring last month likely was payback for an explosive gain in February, economists said. Employment in both retail trade and construction declined over the month by 4,000 and 15,000 jobs, respectively, which could be related to March's bad weather. Retailers shed 4,400. Hotels and restaurants added just 4,300 workers, the fewest in six months.

The biggest jobs gains occurred in manufacturing, health care and white-collar jobs with 22,000 manufacturing positions created. Other factors are going to boost the economy as well and the fact that the USA economy grew at a faster pace in the last quarter of 2017 is proof that it is also going to do well in the years to come. Meanwhile, the labor force fell by 158,000 in March, pushing the participation rate down to 62.9 percent.

But he also noted that "other measures continue to suggest" that there are more workers available than the unemployment rate might indicate. Macroeconomic Advisers, a consulting firm, forecasts the economy grew at just a 1.4 percent annual rate in the January-March quarter - less than half the 2.9 percent annual pace of the October-December quarter.

That was a slight acceleration from the previous month, but still below the rate of increase when the unemployment rate was last at this level.

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