- +103,000 jobs added
- U3 unemployment rate unchanged at 4.1%
- U6 underemployment rate fell -0.2% from 8.2% to 8.0%
- Not in Labor Force, but Want a Job Now: fell -35,000 from 5.131 million to 5.096 million
- Part time for economic reasons: fell -141,000 from 5.160 million to 5.019 million
- Employment/population ratio ages 25-54: fell -0.1% from 79.3% to 79.2%
- Average Weekly Earnings for Production and Nonsupervisory Personnel: rose $.04 from $22.38 to $22.42, up +2.4% YoY. (Note: you may be reading different information about wages elsewhere. They are citing average wages for all private workers. I use wages for nonsupervisory personnel, to come closer to the situation for ordinary workers.)
Trump specifically campaigned on bringing back manufacturing and mining jobs. Is he keeping this promise?
- Manufacturing jobs rose 22,000 for an average of +19,000/month in the past year vs. the last seven years of Obama’s presidency in which an average of 10,300 manufacturing jobs were added each month.
- Coal mining jobs were unchanged for an average of +75/month vs. the last seven years of Obama’s presidency in which an average of -300 jobs were lost each month
January was revised downward by -63,000. February was revised upward by +13,000, for a net change of -50,000.
“Employment/population ratio ages 25-54: fell -0.1% from 79.3% to 79.2%”.
While the unemployment rate did not rise – note the labor force participation rate fell. We are heading in the wrong direction.
it appears that a lot of the usual seasonal hiring in sectors such as construction, retail, administrative and waste services, and leisure and hospitality that normally takes place in March happened in February because of the unusual warm month, so March got shortchanged on those hires after the seasonal adjustment…however, the unadjusted data shows that there were actually 665,000 more payroll jobs in March than in February, after 1,232,000 payroll jobs had been added in February, so this year’s actual job creation is still well ahead of the normal post-winter bounce..