The Bureau of Labor Statistics released the March jobs report this morning, revealing a slowdown in hiring much larger than anticipated. Only 126,000 jobs were added — about half of what economists were predicted. The good news is hourly earnings rose slightly, beating expectations. That indicates the labor market is tightening — to attract employees, businesses have to pay more. Today, Miriam Sitz started her morning at a restaurant in Harlem to see how jobs report numbers play out in real life. She went to McDonald’s on 125th and Broadway.
On Monday, the European Central Bank starts a program that will inject more than a trillion euros into its economy by the middle of next year. The policy – known as quantitative easing – is the latest mvoe in an effort to bring the Eurozone out of its fiscal crisis. Adélie Pontay spoke with economist Schmitt-Grohe, who says it’s a big change for the European Central Bank.