Private sector job growth dropped to an 18-month low in March, according to an ADP National Employment Report released Wednesday, hinting at a possible slowdown in an economic boom that President Donald Trump has long hailed as his chief accomplishment.
"The job market is weakening, with employment gains slowing significantly across most industries and company sizes. Businesses are hiring cautiously as the economy is struggling with fading fiscal stimulus, the trade uncertainty, and the lagged impact of Fed tightening," Mark Zandi, the chief economist at Moody's Analytics said in the press release.
Newly redesigned $100 notes lay in stacks at the Bureau of Engraving and Printing, in Washington, D.C., on May 20, 2013. Private sector job growth dropped to an 18-month low in March. Mark Wilson/Getty Images A Gallup Poll released in November found that 78 percent of registered voters said they viewed the economy as"extremely" or"very" important, likely rendering the state of the economy an important topic in the 2020 election.