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4/6/12

Sorry Associated Press... Turns out the March Jobs Report Sucks

Fourth straight month of strong US hiring expected

(AP)- "The U.S. economy probably generated more than 200,000 jobs in March, capping the best four months of hiring since before the recession.

Economists expect that U.S. employers added 210,000 jobs last month and that the unemployment rate remained at 8.3 percent for the third straight month, according to a survey by FactSet.

The Labor Department will release the March employment report at 8:30 a.m. Eastern time.

Turns out they were way off. The market added half the number of jobs they expected.

The job market slowed in March as companies hit the brakes on hiring amid uncertainty about the economy’s growth prospects. The unemployment rate dipped, but mostly because more Americans stopped looking for work.

The Labor Department says the economy added 120,000 jobs in March, down from more than 200,000 in each of the previous three months.

The unemployment rate fell to 8.2 percent, the lowest since January 2009. But the rate dropped because fewer people searched for jobs. The official unemployment tally only includes those seeking work.

The only reason the unemployment fell 0.1% is because people have stopped looking for work.

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