US Jobs Market Posts First Decline Since September 2010

The US Bureau of Labor Statistics released its monthly employment report this morning, showing the US jobs market posted its first month-over-month decline in March since September 2010. As seen in the chart below, total nonfarm payrolls fell by 701,000 during the March survey period, a sharp drop-off from what had been a sanguine trend. This ends one of the most impressive streaks of jobs gains in history at 113 months, one that weathered numerous economic shocks along the way.

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