The job market in the United States grew 4.1% in March as compared to February. The expansion in March did not meet our expectations. We expected a higher increase in labor demand for this time of year. The moderate growth may be a reflection of the significant developments in Japan and the Arab countries.
Year-over-Year demand for new labor increased 39.1%, the least annual growth within the last 10 months. While we remain cautiously optimistic, labor demand needs to pick up stronger in the coming months to accelerate the economic recovery.