Two jobs reports show hiring is slowing - Hawaii News Now - KGMB and KHNL

Two jobs reports show hiring is slowing

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HONOLULU (HawaiiNewsNow) -

Despite signs of economic improvement, two new reports Wednesday suggested hiring is slowing across America.

ADP, the payroll company, counted 158,000 new jobs created by private employers last month, down from 237,000 in March.

The Institute for Supply Management, which does monthly tracking of service sector hiring, reported March hiring fell to the slowest pace since August.

Hawaii, which has enjoyed much lower unemployment than the national jobless rate, has nevertheless seen only very slow decline in its weekly jobless claims, which will be updated Thursday.

Fewer than 12,000 Hawaii residents are claiming unemployment compensation, including fewer than 2,000 first-time claims most weeks, but this has not changed substantially in recent months.

Earlier this week, a factory survey found a slowdown in factory hiring, and some economists said they were beginning to see fallout from federal spending cuts.

Mark Zandi, chief economist of Moody's Analytics, said, "The job market continues to improve, but in fits and starts."

European stocks fell and gold, a refuge in times of uncertainty, rose, after Wednesday's reports.

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