Can't disagree with CR's bottom line, "This was a disappointing employment report":
Nonfam payroll employment edged up in March (+88,000), and the unemployment rate was little changed at 7.6 percent, the U.S. Bureau of Labor Statistics reported today. ...The change in total nonfarm payroll employment for January was revised from +119,000 to +148,000, and the change for February was revised from +236,000 to +268,000. The headline number was well below expectations of 193,000 payroll jobs added. However employment for January and February were revised higher.
... The Labor Force Participation Rate decreased to 63.3% in March... The participation rate is well below the 66% to 67% rate that was normal over the last 20 years, although a significant portion of the recent decline is due to demographics.
The Employment-Population ratio was also declined to 58.5% in March (black line). ...
This was a disappointing employment report and worse than expectations.
Too bad we don't have something like a need for infrastructure that, if we were to employ people to overcome it, could hep with this problem.