March Jobs Report: Good, Not Great | LinkedIn

After disappointing, weather-related readings over the past few months, the Labor Department said the U.S. economy added 192,000 non-farm jobs in March, a return to the pre-polar-vortex trend. Additionally, revisions to the previous two months amounted to an additional 37,000 jobs. The unemployment rate remained at 6.7 percent, which is basically where it has been for the past four months. This good, not great report brings us back to where we were before the severe winter. Now the question remains: When will the big uptick in job creation finally arrive?With this report, private employment has returned to the pre-recession peak and has actually reached an all time high. However total payroll employment is still 437,000 below the pre-recession peak due to government layoffs (85,000 in the past year). Given the current pace of job creation, total employment should reach a new high sometime this summer – a full five years AFTER the recession officially ended!Many economists believe that the steady decline in the monthly average of initial jobless claims; an increase in Gallup’s Job Creation Index to the highest level since 2008; and a surprising uptick in ISI’s survey of recruiting firm activity recently points to a pick-up to over 200,000 a month in the next few months. The analysts at Capital Economics are more%

via March Jobs Report: Good, Not Great | LinkedIn.

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