You can almost hear Jay Carney shrugging away the bad news, reminding everyone that this must be what people want because we live in a democracy and this is what people voted for when they re-elected Obama.
Work Slowdown? ADP Says Job Creation Slowing
Private-sector job creation was considerably less than expected in March, indicating that the labor market’s improvements could begin stalling.
A joint report Wednesday from ADP and Moody’s Analytics showed 158,000 new positions, well below economist expectations of 200,000.
Weekly Jobless Claims Get Weaker as Outlook Dims
The number of Americans filing new claims for unemployment benefits rose to its highest level in four months last week, suggesting the labor market recovery lost some steam in March.
Initial claims for state unemployment benefits increased 28,000 to a seasonally adjusted 385,000, the highest level since November, the Labor Department said on Thursday.
It was the third straight week of gains in claims.
Service Sector Growth Weakest in Seven Months: ISM
The pace of growth in the vast U.S. services sector slowed in March to the lowest level in seven months as new orders and employment measures pulled back, an industry report showed on Wednesday.
US Mortgage Applications Fell Last Week
Applications for U.S. home mortgages fell last week, as a decline in refinancing activity offset higher demand for purchase loans, an industry group said on Wednesday.