(Bloomberg View) — Here are the eight quick things to know about the jobs report released today:
1. The U.S. employment machine notably lost momentum in March, with just 126,000 new jobs added — far fewer than the consensus expectation of around 250,000 — and with revisions erasing 69,000 from the previous two months' total, according to the Labor Department. The lackluster result ends an impressive 12-month run of job gains in excess of 200,000.
2. The sectoral composition of the job gains and losses indicates that weather disruptions and international headwinds contributed to the disappointing number. Together, those forces countered what is still weak structural growth momentum.
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