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Federal Reserve policy makers have another reason to delay an interest-rate increase after a weak March payrolls report corroborated a first-quarter slowdown in the U.S. economy. The question is whether that’s reason enough.

Employers last month added the fewest jobs since December 2013, creating just 126,000 positions, the Labor Department said Friday. Revisions erased 69,000 jobs from previously reported tallies for January and February. The weaker data contrast with 12 straight months of 200,000-plus monthly gains.

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