Jobs Report Signals Hiring Slowdown

The U.S. economy added 126,000 jobs in March, disappointing economists who were expecting about 248,000 new jobs. While the unemployment rate remained at 5.5 percent, the figures for February and January were revised downward. The 126,000 jobs added last
3:38 | 04/03/15

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Transcript for Jobs Report Signals Hiring Slowdown
Okay. Happy Friday everyone it is April 3 and while the markets in New York are closed for Good Friday we do you have a very big number and that is 100. And 26 balance and and that was. And the US economy added in March which with a huge disappointment. As economists were expecting 248000. Jobs created. And while the jobless rate stayed at five point 5% the numbers for February as well as January were revised downward as well. Hello however one analyst that her in new York and that number 126000. Jobs added last month. Are actually the weakest jobs gain since December 2014. Here with the details is Danielle Douglas Gabriel of the Washington Post good morning to you again now and like. Dig through some of these numbers here why did they hiring disappoint last quarter and what areas toppled losses are retarded energy manufacturing. Would be. Series we saw a lot of losses with it was within the manufacturing sector and that includes a lot of oil related Johnson of course as you know. Oil prices have plunged in the last few months and now we're starting to see that pressure on prices manifest through job losses. As a result oil prices processor to stabilize it and we'll start to see that level off we Meese he. Eight creep back up in the number of jobs that are available for folks within that industry. And you have to wonder the extreme weather up across the country last month especially could that have been a reason for some of the slowdown. It's certainly possible Ameen in the northeast he saw that crushing cold that. And we experienced that here in DC and a lot of people we're going out to shop and as a result of retail sales are pretty weak and when retail sales are weak. Durable goods orders tend to be down and one thing affects the other and then you start to see a slowdown in that sector. And you know Wal-Mart companies and Wal-Mart and McDonald's. Are making news because they are racing we just actually in surely you would think this is a good sign for hiring right. It certainly could be inning usually when you start to see companies make moves like this in mass beyond the great publicity it offers for these companies also is an indicator that job market start to tighten and in order to stay competitive and to keep people. In their doors to keep their associates they're gonna have to start raising rates and we're seeing this out Wal-Mart or scenes at McDonald's he sought a target so I think about is a good indicator. It all depends bill as to whether people actually to keep those jobs or even want to apply for those jobs if they're seeing other opportunities out there that are willing to pay them more. And finally the feds would they had been. Hit king at raising interest rates in the summer and these weakening jobs numbers could this. And the slowing down of the corporate profit could this put them in a bind. I get the sense that I think that fed starting to reassess whether this is the appropriate time to start raising worries you know Janet Yellen last week it said. That you know she's very cautious and she's assessing. All of the indicators economic indicators to make sure that they're not going to rush this read increase and certainly wouldn't be a rash they've been hinting at this for at least the last two years. But I think when we start to see numbers like this that are definitely beneath what economic expectations work. The federal probably reassess whether this is the right time. Thank you once again getting about with Gabriel from the Washington Post thank you so much for joining us in ad. You can of course keep up with the latest headlines right here on abcnews.com. You have been watching the big number analysts think her in New York.

This transcript has been automatically generated and may not be 100% accurate.

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