March Jobs Report: Manufacturing Holds Key
NEW YORK (TheStreet) -- The nonfarm payrolls report due Friday morning is expected to show a steady pickup in private sector job creation, with broad participation from the various sectors of the economy.
But with the onset of new disturbances at the global level in the form of the Japan earthquake and the ongoing tensions in the Middle East, expectations for a swift recovery in the jobs market in the forthcoming months have once again been tempered.
The economy is likely to have added 185,000 jobs in March, according to the latest consensus estimates from Briefing.com. Companies are expected to have created an additional 203,000 jobs, offsetting layoffs at the state and local government level.
The unemployment rate is forecast to tick up by a tenth of a point to 9%.On Wednesday, the ADP survey offered markets a first take at the March employment situation. According to the report, companies added 201,000 jobs , with small businesses contributing to more than half of that growth.
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