Despite the overall dreariness of the report, some industries performed well relative to others. The service sector and health care industries added 51,000 and 23,000 jobs, respectively. Retail contracted, losing 24,000 jobs, while the United States Postal Service cut its payrolls by 12,000. There remains the possibility of an upward revision in the employment numbers; in each of the two months prior to March the numbers were revised upwards by approximately thirty thousand.
Many remain bullish, however, as the report this morning is in direct opposition to the long-term trend. The S&P 500 has experienced record highs as of late, and many traders feel that the Bureau of Labor Statistics report is an anomaly or a product of seasonal weakness. Certain industries continue to perform well, healthcare in particular (UnitedHealth Group Inc. was the lone winner of the 30 Dow stocks). The robust showing in German factory orders this morning could also prove to be a stabilizing element in stock prices, and continued support for growth-oriented policies from the Federal Reserve and its worldwide counterparts is likely to bolster growth in the long-run.