US jobs data point to weaker than expected market [Video]

The US jobs market was probably cooler than expected in the year through March, Labor Department data showed Wednesday, signaling weaker but still-positive growth.

US employers were estimated to have added 818,000 fewer jobs than initially reported for the 12-month period, meaning job growth in the world’s biggest economy was lowered by around 68,000 per month.

While this marks a significant decline, it was less dramatic than the loss of up to one million predicted by some economists, and could be revised further.

“You’re looking at something that is significantly cooler than previously but still positive and still relatively robust,” said EY chief economist Gregory Daco.

“The nuance there is very important,” he added, telling AFP the data “does not point to a weak labor market.”

The revisions also do not account for unauthorized immigrants who have contributed strongly to employment growth in recent years, noted Nationwide chief economist Kathy …