U.S. job growth likely slowed in March as the boost from mild temperatures faded, but the gains were probably more than enough to push the unemployment rate down to 4 percent, indicating the labor market continues to tighten.
Nonfarm payrolls probably increased by 193,000 jobs last month, according to a Reuters survey of economists. Payrolls surged 313,000 in February as unusually warm weather saw construction firms hire the most workers since 2007. Temperatures returned to normal in March, with some snowstorms.
March’s anticipated job growth would be below the 242,000 average of the past three months. Still, it would be well above the roughly 100,000 jobs per month needed to keep up with growth in the working-age population.
Click to read the rest of the jobs report by Reuters.