Though Jobless Rate Dips, March Jobs Number Disappoints

Job seekers at an employment fair in San Antonio Photograph by Eddie Seal/Bloomberg

The curse of spring is on us again. A hot start to the year has faded with a poor March jobs report, as labor force participation fell to its lowest level in 34 years. The U.S. economy created just 88,000 jobs in March, the Bureau of Labor Statistics reported Friday. This is well below expectations. The average estimate of economists surveyed by Bloomberg was for a gain of 190,000. This marks a big slowdown from February’s pace of 268,000 (revised), which ended up being surprisingly strong.

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