Last week’s monthly jobs report for March was a disappointment at 103,000, but that didn’t mean it was bad news for investors. First, maybe it was low because of the late winter blizzards on the east coast. There were three, and they clearly slowed construction which was one of the weakest components of the jobs report. Also, the weak report has a dampening effect on the speculation that the FED would possibly raise interest rates more than the three times they have targeted for 2018.
Investors like consistency and predictability, and since they are not getting it from the trade war talk, at least they are getting it from the FED. Slower growth in jobs is not a bad thing especially if the unemployment rate remains as low as it is.