Job growth slows in March. Is it payback?
The Christian Science Monitor
By Laurent Belsie
April 7, 2012
The disappointing March employment report suggests job growth is coming back in sync with economic expansion after unusually strong job growth in the winter.
Is the economy really growing faster than the numbers show? Or has the relationship between growth and employment changed? Or is the jobs number skewed?
On Friday, economists got the first piece of the answer. The Labor Department released a disappointing employment report, saying the US economy created 120,000 new nonfarm jobs in March, only half the total added in February and the smallest jobs gain since October. The argument that the economy is growing faster than the data show fell like a thud...
..."Hiring demand continues to be strong," says Jim John, chief operating officer of Beyond.com, an online career network based in King of Prussia, Pa., for employers and job-seekers. He says job ads posted on his website in January (which would typically be filled in March) also suggested a slowdown in hiring after a very strong December. Since then, job postings have picked up again, rising 32 percent from February to March, which would suggest strong hiring in May.
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