Only 98,000 jobs were added to the market in March, compared to the expected 180,000. The unemployment rate, however, hit 4.5%, the lowest since 2007.
Here are some other highlighted labor stats for March:
- Wages increased by 0.2%.
- Professional and business services saw the biggest job gains, adding 56,000 jobs.
- Retail saw a near 30,000 job reduction.
Some blame the unexpectedly harsh winter weather for March’s poor labor performance, while others wonder if March was an economic indicator for what’s to come in Trump’s administration.