According to the NAHB, data from The Bureau of Labor Statistics reported a disappointing 126,000 new jobs in March, well below expectations.
This left the unemployment rate unchanged at 5.5 percent, and job gains in January and February were revised downward by a total of 69 thousand.
But is this weak performance a matter of weather? According to the National Oceanic and Atmospheric Administration, much of the U.S. was experiencing warmer weather in the second week of March compared to February, where temperatures were well below normal.
Hence, the NAHB reports that “the weakness in the payroll numbers was unlikely weather-related.”