Jerky Jobs

In a usual month, about a million jobs are created in the US and about 800,000 are destroyed, with net job growth of +200,000. The reason the March job report looked relatively bad at -700,000, is because there was reasonably normal job destruction in March, but absolutely no hiring! This is because no jobs were created. Essentially, firms stopped hiring in March, but didn’t do much firing! Wait till April.