March Jobs Report

This mornings release of the monthly Non Farm Payrolls reports has financial analysts far and wide perplexed. On the headline number, things look pretty good. The number of jobs created came in above expectations at 215k, but the numbers are worth giving a second look. While we did add to the work force, a large portion of those jobs are part time and on the lower end of the wage scale. Additionally, we saw jobs lost in the manufacturing sector. That is never an encouraging sign for an economy that is supposedly expanding.

These trends warrant some additional watching to see if their is true strength in hiring. Or, is it more a result of seasonal part time labor. As a Long Island Fee based financial advisor, our clients are always curious about the strength of the labor force. How these hiring trends will effect their day to day operations in their respective businesses is always top of mind. This months report certainly presents an interesting scenario for the federal reserve.  It probably doesn’t move the needle enough one way or another to alter the path of monetary policy. We will keep a close eye on the fed and report back to you in our next edition of fiscal fitness.

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