Jobs Growth Remains Modest

Calafia Beach Pundit57.16K FollowersFollow5ShareSavePlay(3min)CommentsSummaryThe March '26 private sector jobs report released today was stronger than expected (186K vs 78K), but only modest when viewed from a multi-month perspective.Over the past 12 months, private sector jobs growth has averaged a very modest 42K per month.Private sector jobs are growing at a 0.5% annualized rate - not much to write home about, but not much to worry about either.

Getty Images The March '26 private sector jobs report released today was stronger than expected (186K vs. 78K), but only modest when viewed from a multi-month perspective. Chart #1 Chart #1 shows the monthly change in private sector jobs. For mostThis article was written byCalafia Beach Pundit57.16K FollowersFollowScott Grannis was Chief Economist from 1989 to 2007 at Western Asset Management Company, a Pasadena-based manager of fixed-income funds for institutional investors around the globe. He was a member of Western's Investment Strategy Committee, was responsible for developing the firm's domestic and international outlook, and provided consultation and advice on investment and asset allocation strategies to CFOs, Treasurers, and pension fund managers. He specialized in analysis of Federal Reserve policy and interest rate forecasting, and spearheaded the firm's research into Treasury Inflation Protected Securities (TIPS). Prior to joining Western Asset, he was Senior Economist at the Claremont Economics Institute, an economic forecasting and consulting service headed by John Rutledge, from 1980 to 1986. From 1986 to 1989, he was Principal at Leland O'Brien Rubinstein Associates, a financial services firm that specialized in sophisticated hedging strategies for institutional investors. Visit his blog: Calafia Beach Pundit (https://scottgrannis.blogspot.com/)