US Economy Shows Signs Of Positivity In Fourth Quarter

US Economy Shows Signs Of Positivity In Fourth Quarter

"Even though March was weaker than we were expecting, there is still evidence of an acceleration in the underlying pace of employment growth", Paul Ashworth, chief USA economist at Capital Economics, wrote in a note.

"The strong job market does appear to be drawing back some people who have been out of the labor force for a significant time", Federal Reserve Chairman Jerome Powell said Friday.

Employment gains averaged 202,000 jobs per month in the first quarter, highlighting underlying labour market strength. Last year, employment increased by 128,400, which is equivalent to nearly 500 new jobs, on average, per working day.

Wage growth remained muted, with average hourly earnings rising 2.6 percent.

But in the context of self-congratulations for his recent decision to impose tariffs on aluminum imports, President Donald Trump tweeted Friday that 'Lots of money [is] coming into USA coffers and Jobs, Jobs, Jobs!'

Edward Daniel, chief executive of Metropolitan Health Services, says he's raised pay and sweetened benefits to try to fill his 740-person company's roughly 80 open jobs.

A separate government report last month showed there was almost one open job for every unemployed person, the lowest ratio on records dating back two decades. The government counts people who are out of work as unemployed only if they're actively searching for jobs.

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Economists had expected the report to show 185,000 jobs were created in March while the unemployment rate was expected to fall to 4%, according to estimates from Bloomberg. If employers have made a strategic decision to slow hiring because of doubts about the future, that could signal a potential threat to the economic expansion.

"The question that looms large now is how trade talks will impact hiring in the second quarter", he said in a note warning of the economy "now entering a treacherous phase".

The company now offers a 401 (k) to all employees and provides a prescription drug discount card.

Snowstorms and floods in the northeast are likely to have played a part in the weaker gain in March, with jobs in the construction sector falling by 15,000. Retailers shed 4,400. Hotels and restaurants added just 4,300 workers, the fewest in six months. Professional and business services, which includes fields such as accounting and architecture, gained 33,000 positions.

The proportion of adults in their prime working years - defined as ages 25 to 54 - who are either working or looking for jobs reached the highest level in almost seven years in February, before declining last month.

Over the past two years, employment has been on an "upward trend", said Statistics Canada, but took a dive at the start of 2018 when unemployment hit 5.9 per cent in January.

The US central bank had increased borrowing costs last month and forecast two more interest rate hikes this year.

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