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Hold Talks on Crucial Debt Payment##&&Economic View##&&It’s Not the Inequality; It’s the Immobility##&&U.S. Economy Gained Jobs in March, an Abrupt Slowdown in Hiring##&&Hollywood Reporter Signs Content Deal With Tencent, Chinese Online Giant##&&Economic Scene##&&The False Hope of a Limited Government, Built on Tax Breaks##&&Mergers & Acquisitions##&&Yoox to Merge With Net-a-Porter in All-Share Deal##&&ECONOMY##&&Fed Removes Promise to Be ‘Patient’##&&ECONOMY##&&Fed Removes Promise to Be ‘Patient’##&&Loading...##&&See next articles##&&See previous articles##&&Economy##&&Home Page##&&Home Page##&&World##&&U.S.##&&Politics##&&New York##&&Business##&&Business##&&Opinion##&&Opinion##&&Technology##&&Science##&&Health##&&Sports##&&Sports##&&Arts##&&Arts##&&Fashion & Style##&&Fashion & Style##&&Food##&&Food##&&Home & Garden##&&Travel##&&Magazine##&&Real Estate##&&Video##&&The Upshot##&&Conferences##&&More##&&Economy##&&​##&&​NYT Now##&&U.S. Economy Gained Jobs in March, an Abrupt Slowdown in Hiring##&&By##&&PATRICIA COHEN##&&APRIL##&&Inside##&&Photo##&&A Pennsylvania Department of Transportation crew working last month. While hiring in sectors like construction and government didn't change much last month, analysts blamed the punishing winter for March's overall slowdown.##&&Credit##&&John Rucosky/The Tribune-Democrat, via Associated Press##&&Continue reading the main story##&&Continue reading the main story##&&Continue reading the main story##&&Share This Page##&&Email##&&Share##&&Tweet##&&Save##&&more##&&Continue reading the main story##&&Continue reading the main story##&&The yearlong streak of robust monthly job creation was broken on Friday with the##&&Labor Department’s report##&&that employers added just workers in March, a marked slowdown in hiring that echoed earlier signs that sluggish business investment and punishing weather were exacting a toll on the economy.##&&Analysts blamed the plunge in oil prices as well as the pall cast by a difficult winter across the Northeast and Midwest, a combination that put a crimp on spending in the energy patch and held back consumer spending and construction.##&&Still, this new report presents only a limited snapshot, and many said they expected the economy to regain at least some of its momentum later this year.##&&“The American energy industry is adjusting very quickly to low oil prices, and we’ve seen this in the counts of the number of rigs that are active,” said Carl R. Tannenbaum, chief economist at the Northern Trust Company. “The bad news is we’re losing some jobs. The good news is, we hope, that the average consumer is saving a tremendous amount of money in lower gasoline prices.”##&&The unemployment rate held steady at percent. Hourly wages, in one of the few bright spots in the report, rose percent for private sector workers in March, after a meager percent rise in February. But hours worked were down slightly, so overall paychecks were left essentially flat.##&&The slowdown in job creation reinvigorated the debate about when the Federal Reserve will raise interest rates above their near-zero level, where they have remained since Many Wall Street analysts said the murky jobs picture was likely to reinforce the view among the Fed’s more dovish policy makers that rates should stay put at least until the end of the summer because the economy may not be strong enough to stand on its own.##&&Speaking at a conference in San Francisco last week,##&&Janet L. Yellen##&&the Fed’s chairwoman, warned that the recovery was fragile, despite steady progress on the jobs front. She said that the Fed would move slowly to raise rates even after it began the process of lifting short-term borrowing costs.##&&Continue reading the main story##&&Continue reading the main story##&&The Labor Picture in March##&&SHARE OF##&&POPULATION##&&1-MONTH##&&CHANGE##&&MARCH##&&Employed##&&%##&&Unch.##&&Labor force##&&(workers and##&&unemployed)##&&–##&&‘HIDDEN’##&&UNEMPLOYMENT##&&1-MONTH##&&CHANGE##&&In millions##&&MARCH##&&O##&&A##&&S##&&N##&&D##&&J##&&F##&&M##&&Working part##&&time, but want##&&full-time work##&&1-MONTH##&&CHANGE##&&1-YEAR##&&CHANGE##&&MARCH##&&People who##&¤tly want##&&a job§##&&†##&&–##&&%##&&Unch.##&&–##&&pts.##&&–##&&pts.##&&–##&&–##&&UNEMPLOYMENT BY##&&EDUCATION LEVEL##&&1-MONTH##&&CHANGE##&&†##&&†##&&†##&&–##&&–##&&MARCH##&&–##&&Less than##&&High school##&&%##&&High school##&&–##&&1-MONTH##&&CHANGE##&&1-YEAR##&&CHANGE##&&Some college##&&–##&&MARCH##&&Bachelor’s or higher##&&–##&&–##&&%##&&–##&&%##&&–##&&–##&&TYPE OF WORK##&&1-MONTH##&&CHANGE##&&In millions##&&MARCH##&&Nonfarm payroll,##&&12-month change##&&Nonfarm##&&Goods##&&–##&&Services##&&Agriculture##&&AVERAGE WEEKLY EARNINGS##&&Rank-and-file##&&workers##&&1-MONTH##&&CHANGE##&&MARCH##&&O##&&A##&&S##&&N##&&D##&&J##&&F##&&M##&&Unch.##&&UNEMPLOYMENT RATE##&&SHARE OF##&&POPULATION##&&1-MONTH##&&CHANGE##&&1-YEAR##&&CHANGE##&&MARCH##&&%##&&Employed##&&%##&&Unch.##&&pts.##&&Labor force##&&(workers and##&&unemployed)##&&–##&&pts.##&&–##&&‘HIDDEN’##&&UNEMPLOYMENT##&&1-MONTH##&&CHANGE##&&1-YEAR##&&CHANGE##&&In millions##&&MARCH##&&O##&&A##&&M##&&J##&&J##&&A##&&S##&&N##&&D##&&J##&&F##&&M##&&Working part##&&time, but want##&&full-time work##&&%##&&–##&&%##&&UNEMPLOYMENT##&&DEMOGRAPHICS##&&1-MONTH##&&CHANGE##&&1-YEAR##&&CHANGE##&&MARCH##&&People who##&¤tly want##&&a job§##&&†##&&–##&&White##&&%##&&Unch.##&&–##&&pts.##&&Black##&&–##&&pts.##&&–##&&Hispanic##&&–##&&UNEMPLOYMENT BY##&&EDUCATION LEVEL##&&1-MONTH##&&CHANGE##&&1-YEAR##&&CHANGE##&&†##&&†##&&†##&&Asian##&&–##&&–##&&MARCH##&&Teenagers (16-19)##&&–##&&Less than##&&High school##&&%##&&pts.##&&–##&&pts.##&&DURATION OF##&&UNEMPLOYMENT##&&High school##&&–##&&–##&&1-MONTH##&&CHANGE##&&1-YEAR##&&CHANGE##&&Some college##&&–##&&–##&&In weeks##&&MARCH##&&Bachelor’s or higher##&&–##&&–##&&Average##&&–##&&%##&&–##&&%##&&Median##&&–##&&–##&&TYPE OF WORK##&&1-MONTH##&&CHANGE##&&1-YEAR##&&CHANGE##&&In millions##&&MARCH##&&Nonfarm payroll,##&&12-month change##&&EMPLOYMENT##&&Nonfarm##&&%##&&%##&&%##&&Goods##&&–##&&Services##&&Agriculture##&&AVERAGE WEEKLY EARNINGS##&&Rank-and-file##&&workers##&&1-MONTH##&&CHANGE##&&1-YEAR##&&CHANGE##&&MARCH##&&O##&&A##&&M##&&J##&&J##&&A##&&S##&&N##&&D##&&J##&&F##&&M##&&Unch.##&&%##&&UNEMPLOYMENT RATE##&&%##&&O##&&A##&&M##&&J##&&J##&&A##&&S##&&N##&&D##&&J##&&F##&&M##&&UNEMPLOYMENT##&&DEMOGRAPHICS##&&1-MONTH##&&CHANGE##&&1-YEAR##&&CHANGE##&&MARCH##&&White##&&%##&&Unch.##&&–##&&pts.##&&Black##&&–##&&pts.##&&–##&&Hispanic##&&–##&&†##&&†##&&†##&&Asian##&&–##&&–##&&Teenagers (16-19)##&&–##&&DURATION OF##&&UNEMPLOYMENT##&&1-MONTH##&&CHANGE##&&1-YEAR##&&CHANGE##&&In weeks##&&MARCH##&&Average##&&–##&&%##&&–##&&%##&&Median##&&–##&&–##&&Nonfarm payroll,##&&12-month change##&&EMPLOYMENT##&&%##&&A##&&M##&&J##&&J##&&A##&&S##&&O##&&N##&&D##&&J##&&F##&&M##&&SHARE OF##&&POPULATION##&&1-MONTH##&&CHANGE##&&1-YEAR##&&CHANGE##&&MARCH##&&Employed##&&%##&&Unch.##&&pts.##&&Labor force##&&(workers and##&&unemployed)##&&–##&&pts.##&&–##&&‘HIDDEN’##&&UNEMPLOYMENT##&&1-MONTH##&&CHANGE##&&1-YEAR##&&CHANGE##&&In millions##&&MARCH##&&Working part##&&time, but want##&&full-time work##&&%##&&–##&&%##&&People who##&¤tly want##&&a job§##&&†##&&UNEMPLOYMENT BY##&&EDUCATION LEVEL##&&1-MONTH##&&CHANGE##&&1-YEAR##&&CHANGE##&&MARCH##&&Less than##&&High school##&&%##&&pts.##&&–##&&pts.##&&High school##&&–##&&–##&&Some college##&&–##&&–##&&Bachelor’s or higher##&&–##&&–##&&TYPE OF WORK##&&1-MONTH##&&CHANGE##&&1-YEAR##&&CHANGE##&&In millions##&&MARCH##&&Nonfarm##&&%##&&%##&&Goods##&&–##&&Services##&&Agriculture##&&AVERAGE WEEKLY EARNINGS##&&Rank-and-file##&&workers##&&1-MONTH##&&CHANGE##&&1-YEAR##&&CHANGE##&&MARCH##&&Unch##&&%##&&Figures are seasonally adjusted, except where noted. *Hispanics can be of any race. †Not seasonally adjusted. §People not working who say they would like to be. Includes discouraged workers and those who cannot work for reasons including ill health.##&&Source: Bureau of Labor Statistics##&&Continue reading the main story##&&Related Coverage##&&The Jobs Report: The New Job Numbers Show Just How Muddy the Economic Outlook Is##&&APRIL##&&Economy Grew in 4th Quarter, Final Estimate Shows##&&MARCH##&&Fed Creeps Closer to Higher Rate That May Not Arrive for Months##&&MARCH##&&After a Bounce, Wage Growth Slumps to##&&MARCH##&&“For Yellen, this is an affirmation of what she did,” said Diane Swonk, chief economist at Mesirow Financial. “She said she wants to see more improvement in the labor market.”##&&Luke A. Tilley, chief economist at Wilmington Trust Investment Advisors, said: “For the Fed, this report decreases the probability of an interest-rate increase at the June meeting.”##&&Rates for government bonds dipped slightly in limited holiday trading.##&&In addition to the March numbers, government statisticians revised their previous estimates for January and February, subtracting jobs from the earlier figures, leaving the monthly average for the first quarter at just under##&&“It was lower than expectations, without a doubt,” said Thomas E. Perez, the secretary of labor. “But I’ve always said that one month never makes a trend.”##&&Photo##&&Joe Stich of Lamar Advertising burning steel billboard supports in Johnstown, Pa.##&&Credit##&&John Rucosky/Associated Press, via Tribune-Democrat, via Associated Press##&&Mr. Perez said that if someone told him last year, when the unemployment rate was percent, that it would now be at percent, “I would have said that’s an April Fool’s joke.”##&&Continue reading the main story##&&Last year, the drop in the nation’s output that accompanied a harsh winter was followed by an unusually##&&strong rebound in the spring##&&Job growth during that cold snap was also disappointing before surging ahead the rest of the year.##&&After a year in which job gains averaged a month, the sharp slowdown brought a mix of dismay and puzzlement. Justin Wolfers, a senior fellow at the Peterson Institute for International Economics and a contributor to Upshot, an online analytical section at The New York Times,##&&posted on Twitter##&&: “If your favorite economic commentator thinks they know what the economy is doing right now, they’re overconfident.”##&&Millions of Americans who have been too discouraged to look for work because of weakness in the labor market largely remained on the sidelines. The labor participation rate — which includes those who have jobs and those who are hunting — ticked down only slightly, to percent from percent in February.##&&With several presidential hopefuls poised to announce their campaigns this month, this latest report will probably help set the stage for the economic themes that candidates present to voters. Republicans and Democrats, who have repeatedly underscored their interest in helping working- and middle-class families that the recovery has left behind, may be looking at other worrisome economic signs as well.##&&Continue reading the main story##&&’##&&’##&&’##&&Change in jobs##&&In thousands##&&March##&&’##&&’##&&’##&&’##&&Unemployment rate##&&March##&&Source: Bureau of Labor Statistics##&&Durable goods orders declined in February while retail sales were weak despite increases in household disposable income. The trade deficit narrowed in February — probably in part because of work stoppages at West Coast ports that limited imports — but the rising value of the dollar has put a dent in the country’s exports and is likely to mean an increase in cheaper imports from overseas.##&&Growth in manufacturing is also off to a slower start this year than some economists had hoped.##&&Friday’s disappointing figures, the weakest showing in two years, mean it will take longer for the economy to reach a level most analysts consider close to full employment.##&&The##&&Hamilton Project##&&an economic policy initiative at the Brookings Institution, calculated that the nation still faces what it calls a “jobs gap” of four million, the number of additional jobs needed to reach prerecession employment levels.##&&More encouraging outlooks could be found in other quarters this week. McDonald’s, in announcing##&&plans to raise wages##&&for employees at its company-owned restaurants, cited a strengthening labor market. And Walmart, the country’s largest private sector employer, already said it would##&&raise wages##&&to a minimum of an hour by this month.##&&Photo##&&Retrieving a pallet at the Hardware Sales Inc. warehouse in Ferndale, Wash. The unemployment rate held steady.##&&Credit##&&Manuel Valdes/Associated Press##&&Also, the number of##&&Americans filing for unemployment last week##&&fell to a 15-year low. That brought the four-week moving average — a better indicator because it smooths out the normal bumps in the road — to a better-than-expected##&&Housing prices have also continued their slow but steady recovery.##&&Particular groups of workers continue to face persistent difficulties, however.##&&Continue reading the main story##&&Continue reading the main story##&&“The unemployment rate for black communities is at a crisis level, even as the economy gets closer and closer to a full recovery,” said Valerie Wilson, an economist at the left-leaning Economic Policy Institute.##&&The unemployment rate for blacks is typically twice as high as the rate for whites, she said, but since the recession, that gap has increased. While white unemployment dropped to percent in the last quarter of for example, black unemployment remained at percent.##&&Long-term unemployment also remains a problem for older workers even as more seniors are hanging on to their jobs well into their 60s. A report issued by the AARP Policy Institute this week noted that last year, on average, percent of job seekers aged and older were out of work for weeks or more.##&&The number of long-term unemployed was little changed at million in March.##&&Nonetheless, Mr. Tilley of Wilmington Trust remained optimistic: “Although disappointing, we don’t think it portends a turnaround for the U.S. economy.”##&&Correction: April##&&An earlier version of this article misstated the labor participation rate. It edged down to percent in March from percent in February; it was not unchanged in March.##&&Follow Patricia Cohen on Twitter: @Patcohennyt##&&A version of this article appears in print on April on page B1 of the##&&New York edition##&&with the headline: March Data Shows Signs of Slowing in Job Gains.##&&Order Reprints##&&Today's Paper##&&Subscribe##&&Most Emailed##&&How to Be Emotionally Intelligent##&&Aboard Flights, Conflicts Over Seat Assignments and Religion##&&Why Writers Love to Hate the M.F.A.##&&Well: Being a Night Owl May Be Bad for Your Health##&&State of the Art: Apple Watch Review: Bliss, but Only After a Steep...##&&Nicholas Kristof: Enjoying the Low Life?##&&The Radical Vision of Toni Morrison##&&First-Generation Students Unite##&&M.B.A. Programs That Get You Where You Want to Go##&&Sex Education in Europe Turns to Urging More Births##&&View Complete List »##&&Loading...##&&Close this overlay##&&Go to previous##&&Go to next##&&Loading...##&&Go to Home Page »##&&Site Index##&&News##&&World##&&U.S.##&&Politics##&&New York##&&Business##&&Technology##&&Science##&&Health##&&Sports##&&Education##&&Obituaries##&&Today's Paper##&&Corrections##&&Opinion##&&Today's Opinion##&&Op-Ed Columnists##&&Editorials##&&Contributing Writers##&&Op-Ed Contributors##&&Opinionator##&&Letters##&&Sunday Review##&&Taking Note##&&Room for Debate##&&Public Editor##&&Video: Opinion##&&Arts##&&Today's Arts##&&Art & Design##&&ArtsBeat##&&Books##&&Dance##&&Movies##&&Music##&&N.Y.C. 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