US job growth is likely to remain solid in March, which possibly will relieve recent … – Benchmark Reporter

According to the economists strong U.S. job data is going to continue and remain solid for the month of March, which may reduce the fear of the current economic weaknesses. Economists are also suggesting that this will also help the Federal Reserve to increase the interest rate later then sooner.

According to the job market data, factories are facing a slowdown. The construction work across U.S. has slumped. Lower oil prices has also forced energy companies to reduce their workers. But it was also suggested that with the slow wage growth consumers are reluctant to spend, despite recent savings from plummeted gasoline prices.

According to the job market analysts, U.S. job market could see 13^th straight months of job gain of 200,000. According to the economists this is an encouraging sign as recent harsh winter halted the economic growth. According to the economic forecast U.S. job market will see a job gain of 248,000 in March. The unemployment rate will be at 5.5 percent. According to the job market data in February employers added 295,000 jobs.

According to their analysts, job gain has averaged 274,667 since March last year. According to the economists this means that 3.3 million more American`s are getting paid than last year. But they also said, harsh winter and stronger Dollar is holding back the economic growth from the beginning of the year.

The economists are suggesting that the current job data will also help the Federal Reserve to increase the interest rate later than sooner. Some analysts were suggesting that the interest rate hike could come as soon as June. But after releasing of recent data it will be not earlier than September. The Federal Reserve Chair Janet Yellen said, they will be cautious to increase the interest rate and it will be done gradually.

According to the market analysts, factory orders are also showing mixed results due to the strong Dollar. Low-cost of oil has led the energy companies to pause orders for pipelines and equipment, which is hurting the manufacturers. According to the market analysts, exports are also suffering from the strong Dollar. But recent announcements of wage increase by big retailers like McDonald's, Wal-Mart, the Gap and other major employers have improved consumer spending in recent weeks. According to the market experts, continuous hiring by retailers and restaurants would suggest that employers are expecting solid spending from the consumers.