March Jobs Report Leaves Much to Be Desired
When the March jobs report was released on Friday, the news wasn’t very good.
With economists expecting nonfarm payrolls to rise by 245,000, they got a huge shock when that number was announced at just 126,000 – the worst report since December 2013.
“We were due a clunker,” John Canally, chief economic strategist at LPL Financial, told CNBC. “It’s probably the same things that are going to be impacting the earnings season in a couple weeks. It’s the strong dollar hitting manufacturing, the port strike hitting manufacturing, it’s the really awful weather…But across all sectors, it was just pretty soft.”
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