Private payrolls in the US increased the most since last November, according to the March non-farm payrolls report

Private payrolls in the US increased the most since last November, according to the March non-farm payrolls report. Private jobs climbed by 192,000 in March compared to February. January and February hiring numbers were also revised higher. More importantly, the year-over-year increase in payrolls continues to hum along at roughly 2%. It's far from spectacular growth, but it certainly doesn't suggest another recession is on the way. In fact, with initial jobless claims trending lower and ADP employment higher as well, the labor market looks about as good as it's been in quite awhile. Private payrolls are now back at pre-recession levels. If it wasn't for the lack of government hiring/jobs, we may actually be looking at a healthy job market. Thanks a lot, austerity. (VIEW LINK)