Worthy Christian News » US News » U.S. Economy » Jobs Report May Show Economy is in Real Trouble
NEW YORK (Worthy News)-- In the wake of March's tepid jobs creation, it may be time to take a harder look at this soft patch, CNBC reported.
Even ahead of Friday's employment report, concerns were mounting about a growing pile of weak data. JPMorgan's economic research team cut their first quarter GDP growth forecast to a mere 0.6 percent on Thursday, citing poor consumer spending data.
Recent manufacturing data have also looked especially bad, with the ISM manufacturing index's March reading showing the slowest growth since May 2013. Separately, housing market indicators have been mixed, perhaps due to the harsh winter weather.
Now, that story changed after the Bureau of Labor Statistics reported that a mere 126,000 jobs were created in March, compared to broad expectations of another 200,00-plus report. --[wp_colorbox_media url="http://www.cnbc.com/id/102557414" type="iframe" hyperlink="Source"]