Fewer U.S. Jobs Being Created In March?

A rise in the U.S. Labor Department's four-week moving average of initial claims for unemployment insurance suggests to economists at Merrill Lynch & Co. that the U.S. is creating fewer jobs this month than it did in February. For the week ending March 12, the moving average edged up to 316,500 claims, the highest level since the end of January, notes Merrill. "We expect the four-week moving average to continue to increase in the coming weeks, a sign that the labor market is generating fewer jobs than in February, when 263,000 net new jobs were created." Merrill projects 200,000 net new jobs being created this month.