Only
88,000 jobs were added in the month of March, one of weakest periods for the
labor market in recent times. This number was a third of that of the month
February where almost 268,000 new jobs were created. This does cause some
concern for president Obama and his new treasury team due to the fact that
marked the first time in almost 30 months that numbers were this low. On
average in the past 12 months there have been about 169,000 jobs added each
month. However this wasn’t entirely un-expected, there were some hints that
this would indeed happen due to some of the budget cuts going into effect.
I
personally do not believe that these numbers are much cause for concern. Yea
they are low compared to recent months and it doesn’t look good, but things
like this happen and the labor market will recover. With the housing sector
growing bigger and bigger each day as well as adding more jobs through construction
I see this as a slight bump in the road.
I agree with you Nate, I think a big reason for the low numbers is because of the budget cuts that were recently made. Although it is not good to see these numbers drop, the cuts were something that needed to be made sooner or later so the reduced numbers were going to come sometime.
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