US labor market with poor performance in March 2015

Noam Stiekema

The US labor market with poor performance in March 2015, after the report of Automatic Data Processing (ADP) surprisingly showed a tendency to decrease fall below the threshold of 200,000 new jobs for the first time in ten months. The data of ADP showed that private sector employment grew by 189,000 position in March, which […]

US labor marketThe US labor market with poor performance in March 2015, after the report of Automatic Data Processing (ADP) surprisingly showed a tendency to decrease fall below the threshold of 200,000 new jobs for the first time in ten months. The data of ADP showed that private sector employment grew by 189,000 position in March, which was below expectations for an increase of 225,000. The data for last month were revised up to 214,000 from 212,000. Change in employment of ADP, which is the total number of unemployed persons who have found employment last month, is regarded as one of the leading indicators of the labor market in the US. It usually provides investors signal results outside the agricultural sector, which will be presented on Friday.

The unemployment rate is likely to remain intact at 5.5% – the lowest level since the spring before President Barack Obama took office in 2008. Last month, the level fell to a level which, according to some members of the Federal Reserve corresponds practically full employment. However, the Fed remains patient when it comes to raising interest rates. At the last meeting on monetary policy for the Federal Open Market Committee (Federal Open Market Committee – FOMC) said it would be appropriate to be taken tightening, “when you see a further improvement in the labor market and sufficient certainty that the inflation will reach 2% over the medium term”.

“Just because we removed the word” patience “in the statement does not mean that we will be anxious”, said the then head of the Federal Reserve Janet Yellen.

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