March Non Farm Payroll: Like Hot Garbage

I’ve found one good thing to say about this morning’s Non Farm Payrolls report from the BLS: It came out on time.  Other than that – Dios mio, no es bueno…

From the NYT:

The United States economy added a relatively weak 120,000 jobs in March, compared with 240,000 in February, and the unemployment rate dipped to 8.2 percent from 8.3 percent, the Labor Department said on Friday.

Analysts had forecast a 205,000 gain in non-farm payrolls, according to a Bloomberg survey. The change in private-sector payrolls alone was a gain of 121,000 in March, compared with 233,000 in February.

Many economists had expected March to be the fourth consecutive month of solid employment growth, with the addition of more than 200,000 jobs. In the week leading up to the government report, statistics suggested that hiring was picking up pace, although with more than 12 million people unemployment remained relatively high.

Some additional color from the Blogger Ratpack:

March Employment Report: 120,000 Jobs, 8.2% Unemployment Rate (Calculated Risk)

DISASTER: JOBS REPORT MISSES EXPECTATIONS AT 120K (Business Insider)