Friday, April 3, 2015

U.S. Added 126,000 Jobs in March, Lowest Since 2013

Total Nonfarm payroll employment rose by 126,000 in March, down sharply from January’s revised estimate of 201,000 and well below the 12-monthly average of 269,000. The unemployment rate held steady at 5.5%; the Federal Reserve has placed its full-employment estimate between 5.0% and 5.2%.

Goods producing industries shed jobs in March, losing a total of 13,000 jobs, a large portion of which were concentrated in support activities for oil and gas extraction. Food services and drinking places added only 9,000 jobs after adding 66,000 in February. Construction activities flat-lined after gaining 29,000 jobs in February.

Education and health services added 38,000 jobs, down from 57,000 in February. Employment in transportation and warehousing, information, financial activities, and government changed little over the month.

The civilian labor force participation rate remained virtually unchanged at 62.7%. It has held between 62.7% and 62.9% since April 2014.

Average hourly earnings increased by 7 cents to $24.76. Hourly earnings have increased by 2.1% over the last year.

The number of long-term unemployed, those jobless for 27 weeks or more, was little changed at 2.6 million. This group accounts for 29.8% of the unemployed. The number of involuntary part-time workers was little changed at 6.7 million.

Read the BLS release

No comments:

Post a Comment

Please read our comment policy before making a comment.