Apr 3, 2019

"Job market is weakening": Private payroll job growth hits 18-month low

Photo: ilkercelik/Getty Images

U.S. job growth fell to an 18-month low in March, according to a Wednesday report from ADP and Moody’s Analytics. Private payrolls increased by 129,000 in March, missing the 173,000 economists expected.

  • "The job market is weakening, with employment gains slowing significantly across most industries and company sizes," said Moody's Mark Zandi in a statement.

The bottom line: The ADP jobs report is seen as an important precursor to Friday's official government jobs report. The numbers don't bode well for those fearing that the booming jobs market is slowing down — especially after February's dismal report that showed only 20,000 jobs were added to the U.S. economy.

Go deeper: U.S. adds just 20,000 jobs in February

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Coronavirus death toll tops 2,000

Data: The Center for Systems Science and Engineering at Johns Hopkins, the CDC, and China's NHC; Note: China refers to mainland China and the Diamond Princess is the cruise ship offshore Yokohama, Japan. Map: Danielle Alberti/Axios

Some economists warn the stock market has been too "complacent" without factoring in the novel coronavirus as a valid risk, although the major averages were broadly lower midday Monday. Apple and Nvidia have issued earnings warnings and multiple conferences and sports events are being canceled or limited in size.

The big picture: COVID-19 has now killed at least 2,009 people and infected more than 75,000 others, mostly in mainland China. 328 American evacuees from the Diamond Princess are in quarantine at U.S. military bases after arriving from Japan, including 14 people who tested positive — making the total number of confirmed cases in the U.S. 29.

Go deeperArrowUpdated 1 min ago - Health

Sanders requests recount of Iowa recanvass after results show shrunken margin

Photo: Joe Raedle/Getty Images.

Sen. Bernie Sanders said in a statement Tuesday night he will request a recount of the Iowa Democratic Party's recanvass results.

Where it stands: Both Buttigieg and Sanders requested partial recanvasses in Iowa last week after results were delayed and showed several errors following a software malfunction on caucus night.

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