For one thing it would be unusual for the labor market to get substantially worse without first seeing hints in the weekly jobless claims data, which have been very strong lately. Another good sign is the unemployment rate fell to 4.5% from 4.7%, the lowest rate since May 2007. A 4.5% unemployment rate is at the bottom of most estimates of where most economists think the jobless rate could sit without generating inflation.
Non-farm payroll employment rose less than expected
The weaker-than-expected headline from the March jobs report will not deter the Federal Reserve from raising short-term interest rates twice more this year, economists said. The U.S. created just 98,000 new jobs in March. But economists say the data is not a signal that the U.S. economy is falling out of bed.
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