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FBN’s Peter Barnes on the March jobs report and unemployment rate, with 120,000 jobs added for the month, below expectations.
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But right now it is all about Peter Barnes.
Nonfarm payrolls rose a 120000.
Jobs up a 120000.
Jobs and -- well below.
Expectations of 200000 jobs but the unemployment rate did ticked down a bit -- eight point 2% the lowest rate since January 2009.
There were minor revisions -- the January and February numbers January revised down.
By 9000 jobs February revised up by thirteen thousand so net net just to change -- 4000 jobs there.
Not that big the monthly increase up just a 140000.
Jobs in March.
Was a sharp deceleration.
Nonfarm non farm payroll growth.
It had been rising at an average of 246000.
A month afford that three.
Prior months despite this smaller rise in the march in the march number payroll number the unemployment rate fell slightly in part.
Because the labor force shrunk that was not expected as well we're expecting more discourage workers to start coming into the labor force in fact the labor force shrunk by a 164000.
Jobs last month.
Private companies -- a 121000.
Jobs last month.
Government cut.
1000.
Looking at other sectors manufacturing rose very strong once again.
Up 37000.
Jobs leisure and hospitality.
Up 39000.
Health -- up 26000.
Financed mainly banks up 151000.
Jobs -- sectors losing jobs last month retail down 34000.
A big drop the biggest since October 2009.
Construction down 7000.
Trucking jobs would like to look at those up for signs of the economy and how it's going -- down 2000.
A temporary workers have companies caught.
Just by 7500 like to see that grow before companies start making those jobs permanent.
-- six the widest measure of unemployment.
The total unemployed marginally attached to those have -- -- the workforce and part time.
For economic reasons actually fell to fourteen and a half percent from fourteen point 9%.
In February rich and -- -- -- -- asking really quickly it -- was the big miss in the private sector job creation I you mention retail lost 34000 job.
Could any of that -- weather related how -- we know.
Construction was down 7000 so that was a surprise.
But you know these numbers are seasonally adjusted.
We expected the warmer weather would generate more construction jobs -- them forward.
From perhaps in the spring and the summer but but that didn't happen I'll I'll have to try and look at the -- seasonally adjusted number to see.
What might be going on there so that was one area.
That was a surprising we also expected that after local state local governments have cut over half a million jobs in the last a couple of years.
We thought some economists thought we might actually see that bottoming out.
And that the government's the government state -- government adding jobs.
That didn't happen that was flat down a thousand so we're still drilling down into it -- don't -- -- -- hater if you're going to be long part of our panel coming up.
