Job growth hits speed bump in US

United Auto Workers on the finishing line at the Dearborn Truck Plant in Dearborn Mich

Job growth hits speed bump in US

Although the tariffs would not take effect until June at the earliest, Bernard Baumohl, chief global economist at the Economic Outlook Group, saw in the disappointing March jobs growth an early sign "of an economy that is struggling with uncertainty of what lies ahead". "The late winter storms that hit the northeast appear to have had only a small impact on unemployment last month; 159,000 workers reported they were unable to work last month due weather, which is only modestly above the 143,000 average for March over the past 41 years", Wells Fargo added.

Wage data came in in-line with expectations, however, as average hourly earnings rose 0.3% over the prior month and 2.7% over the prior year.

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!'

Figures released by the Labor Department on Friday showed that non-farm payrolls increased by 103,000 jobs last month.

A broader measure of unemployment, which includes people who want to work but have given up searching, and those working part time because they can not find full-time employment, fell two-tenths of a percentage point to 8.0 per cent last month.

The unemployment rate remained at 4.1 percent, a 17-year low, for a sixth straight month, the government said. If employers have made a strategic decision to slow hiring because of doubts about the future, that could signal a potential threat to the economic expansion.

"Across the board, hiring is a challenge", Daniel said.

The company now offers a 401 (k) to all employees after 30 days on the job and provides a prescription drug discount card.

It's a big change, Daniel said, from a decade ago, when the company offered no benefits at all. 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.

Jobs were not added across the board, as they were in previous months.

Private service-providing industries gained 87,000 jobs, led by professional and business services and education and health care, adding 33,000 and 25,000 jobs, respectively. Other factors are going to boost the economy as well and the fact that the United States 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. 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.

The labor participation rate edged down last month, while the share of working-age population that is employed held steady.

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