US employers add 103000 jobs in March, fewest in 6 months
ADP, which calculates based on its own payroll services, had predicted a net gain of 241,000 jobs in March.
Did March provide another month of blowout hiring?
With labor market slack diminishing, wage growth picked up a bit in March. "The unemployment rate remained at its lowest level in 17 years and this slightly low "Goldilocks" type of March jobs report could help stabilize markets as we head into earnings season".
Global shares recoil as China retaliates in U.S. trade war
Trump has also ordered his treasury secretary to weigh new limits on Chinese investment in the United States. With the arrival in 1995 of the Geneva-based World Trade Organization, Section 301 largely faded from use.
Employment growth has occurred in many regions across the province; year-over-year increases include Stratford-Bruce Peninsula (7.3 per cent), Toronto (3.4 per cent) and Hamilton-Niagara Peninsula (2.3 per cent). The influx of new workers, which gives employers more hiring options than a 4.1 percent unemployment rate might otherwise suggest, may also be holding back wage growth. That figure is still impressive, economists say, given that the nation is in its ninth year of economic expansion and the labor force is growing much more slowly than it was before the recession. Sentiment was already soured by the United States and China renewing their trade spat, stoking fears that the tit-for-tat actions could spiral into a trade war. Economists do not see an impact on hiring in the near-term from the stock market selloff, which has caused a tightening in financial conditions. Despite the slowdown in job growth in March, steady wage gains should support consumer spending amid signs gross domestic product growth moderated in the first quarter. The number equates to 2.7 percent on an annualized basis. Average hourly pay ticked up, climbing 2.7 percent compared with a year earlier.
March unemployment held at 4.1%, whereas analysts expected a decline to 4%.
At 1.3 million, the number of long-term unemployed - those jobless for 27 weeks or more - was little changed in March and accounted for 20.3 percent of the unemployed, according to the U.S. Bureau of Labor Statistics. Payrolls in the sector fell 15,000, the first drop since last July, after surging 65,000 in February. The retail sector shed 4,400 jobs after adding 47,300 positions in February. Are we at a point at this late stage in a very long economic recovery, with low unemployment, and fewer people looking for work, or available to do it, where adding 100,000 jobs is about as good as it gets? Government payrolls rose by 1,000 in March.
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