A Ball State economist says the new jobs report released Friday morning points to a lagging economic picture.

Ball State’s Michael Hicks says the latest jobs report points to a cooling economy. The March numbers found 196,000 jobs were created last month after the truly dismal February numbers, and employment creation is down from the last three months of 2018.

The unemployment rate was unchanged last month at 3 point 8 percent.

Hicks says job creation in the first quarter was 25 percent beneath the same rate over the same period last year. Wages, however, grew at 3 point 2 percent over inflation, suggesting labor markets remain tight.