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.”
Image via flickr/photologue_np
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