How the US economy weathered the storm

Despite a few months of adverse weather, upward revisions in private non-farm payrolls should dispel concerns about US job creation, despite the slack in the labour market.

The United States recovery is back on track after a few weather-affected months. There remains considerable slack within the US labour market but the Federal Reserve is all but certain to continue its taper when it meets at the end of the month.

Non-farm payrolls rose by 192,000 in March, narrowly missing expectations, following two solid outcomes in January and February. The unemployment rate remained at 6.7 per cent but the participation rate climbed to its highest level since September.

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