Job growth hit an 18-month low in March amid increasing signs that the hiring boom may be running out of steam.
Job growth hit an 18-month low in March amid increasing signs that the hiring boom may be running out of steam, according to a report Wednesday from ADP and Moody's Analytics.
Overall, though, March was the worst month since September 2017, which saw an increase of just 111,000. All of the gains came from services, which increased 135,000, while goods-producing industries lost 6,000 positions. A decline of 6,000 in construction and 2,000 in manufacturing was offset a bit by a 2,000-job increase in natural resources and mining.
The disappointing number comes as Wall Street is watching the jobs market closely for signs of an economic slowdown. The Labor Department's nonfarm payrolls count is released Friday, with economists looking for growth of 175,000 after February's weak 20,000 reading.
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