Company payrolls rose by 145,000, down from 261,000 in February and below the Dow Jones estimate for 210,000.
Private sector hiring rose by just 145,000 in March, down from 261,000 in February and below the estimate for 210,000.Leisure and hospitality added another 98,000 workers, trade transportation and utilities grew by 56,000 and construction rose by 53,000.
That took first-quarter hiring to an average of just 175,000 jobs a month, down from 216,000 in the fourth quarter and a sharp reduction from the average of 397,000 in the first quarter of 2022. Job growth was almost evenly split between services and goods-producing firms, an unusual occurrence. The U.S. economy is heavily services-oriented, so that sector generally produces much stronger hiring gains. The data released Wednesday showed a gain of 75,000 in services and 70,000 in goods producers.
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