U.S. Job Growth In March Worse Than Expected

Objectivity 4.8 | Credibility 4.8 | Relevance 4.8

Job growth in the U.S. private sector added 145,000 jobs in March, much lower than the expected 200,000 and far less than the 261,000 jobs added in February. The ADP National Employment Report comes as the Federal Reserve continues to combat inflation with rapid interest rate increases forcing businesses to cut back on spending.  Nela Richardson, chief economist at ADP said, “Our March payroll data is one of several signals that the economy is slowing. Employers are pulling back from a year of strong hiring and pay growth, after a three-month plateau, is inching down.”