By Constance Hunter
Today's jobs report showed a gain of only 20,00 new jobs. One needs to consider three main factors:
With that said – the job market should gradually add fewer jobs as the recovery ages. Looking at the graph below one can see that the six-month average shows a downward trend in three key sectors of the economy: construction, goods producing/manufacturing, and professional and business services.
While the slope of these lines may flatten with revisions or a March rebound, it is unlikely they will reverse. The pace of the expansion is expected to slow over the course of the next several quarters and a slower pace of jobs growth is consistent with this expectation.
To speak with Constance Hunter about what she expects from the economy, contact Matthew Weiss at firstname.lastname@example.org.