In brief: Private-sector hiring slows significantly

WASHINGTON – Hiring by U.S. businesses slowed sharply last month to 189,000, the worst performance in more than a year and another indication of sluggish economic growth over the winter.

The private sector added 189,000 net new jobs in March, after an upwardly revised 214,000 the previous month, payroll firm Automatic Data Processing said Wednesday.

Last month’s figure was well below economists’ expectations of 240,000 and was the lowest number of net new private-sector jobs recorded by ADP since January 2014.

“The fallout from the collapse in oil prices and surge in value of the dollar is hitting the job market,” said Mark Zandi, chief economist at Moody’s Analytics, which assists ADP in preparing the report. “Despite the slowdown, underlying job growth remains strong enough to reduce labor market slack.”

Auto sales likely flat, but outlook strong

DETROIT – U.S. auto sales were expected to slow a bit in March, but analysts remain optimistic about the market.

Car buying site TrueCar.com predicted total U.S. sales of 1.5 million vehicles in March, down less than 1 percent from a year ago.

March won’t see the kind of big increases the industry is used to. U.S. auto sales were up 14 percent in January, for example, and 5 percent in February.

But there were several contributing factors. Last March saw a surge in sales after an unusually cold February; by contrast, this March still had lingering snow in much of the country. This March also had one less weekend than last March.

Analysts said sales remain on track to reach 17 million this year, their best performance since 2005. Low interest rates, low gas prices, the improving economy and hot new vehicles like the Subaru Outback and the Jeep Cherokee are all drawing buyers to dealerships.

Allegiant pilots strike blocked by court

Pilots at discount carrier Allegiant Air were prevented in their plans to strike today after a federal court issued a temporary restraining order.

The Las Vegas-based airline had gone to court to block the strike, which would have grounded 250 flights and affected 33,000 customers. The airline does not have enough replacement crews to fly its full schedule. Had the strike goes into the weekend, Allegiant says as many as 186,000 travelers could be stranded.

The carrier said late Wednesday all scheduled flights are expected to operate normally.

Thursdays are one of Allegiant’s busiest travel days. This week is especially popular with more people vacationing for Easter as well as heading to Las Vegas to watch the NCAA men’s basketball championships.

The airline’s pilots, represented by the Teamsters union, are upset over the company’s change in crew scheduling and a rollback in a disability program and other benefits. The two sides had been negotiating until a stalemate in November.

Monsanto’s quarter short of expectations

ST. LOUIS – Monsanto Co. on Wednesday reported fiscal second-quarter net income of $1.43 billion.

The St. Louis-based company said it had profit of $2.92 per share. Earnings, adjusted to account for discontinued operations, came to $2.90 per share.

The results missed Wall Street expectations. The agriculture products company posted revenue of $5.2 billion in the period, also falling short of Street forecasts.