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The March jobs report showed hiring slowed last month, though the U.S. labor market will likely keep pressure on the Federal Reserve to raise interest rates in its efforts to slow inflation.
The U.S. economy added 236,000 jobs last month while the unemployment rate fell to 3.5% from 3.6% the prior month, data from the Bureau of Labor Statistics released Friday showed.
Here are the key figures from the report, compared to last month's revised numbers:
Nonfarm payrolls: +236,000 vs. +326,000
Unemployment rate: 3.5% vs. 3.6%
Average hourly earnings, month-over-month: +0.3% vs. +0.2%
Average hourly earnings, year-over-year: +4.2% vs. +4.6%
In February, the economy added 311,000 new jobs while the unemployment rate rose to 3.6% amid an uptick in participation. February's data was revised to show there were 326,000 jobs added during the month.
Over the last six months the U.S. economy had added an average of 334,000 jobs each month.
By industry, leisure & hospitality was again the largest contributor to last month's job gains with 72,000 new workers coming into the sector during March. Temporary help services was the second-largest contributor to job growth last month with 65,000 workers joining the sector.
The labor force participation rate also ticked higher in March, rising to 62.6% from 62.5% in February. Average weekly hours worked fell slightly, to 34.4 from 34.5.
For more on this article, please click:
https://finance.yahoo.com/news/march-jobs-report-april-7-2023-123139159.html
To get the latest markets news check out finance.yahoo.com
#youtube #YahooFinance #economy #investing #stockmarket #jobs #jobsreport
The March jobs report showed hiring slowed last month, though the U.S. labor market will likely keep pressure on the Federal Reserve to raise interest rates in its efforts to slow inflation.
The U.S. economy added 236,000 jobs last month while the unemployment rate fell to 3.5% from 3.6% the prior month, data from the Bureau of Labor Statistics released Friday showed.
Here are the key figures from the report, compared to last month's revised numbers:
Nonfarm payrolls: +236,000 vs. +326,000
Unemployment rate: 3.5% vs. 3.6%
Average hourly earnings, month-over-month: +0.3% vs. +0.2%
Average hourly earnings, year-over-year: +4.2% vs. +4.6%
In February, the economy added 311,000 new jobs while the unemployment rate rose to 3.6% amid an uptick in participation. February's data was revised to show there were 326,000 jobs added during the month.
Over the last six months the U.S. economy had added an average of 334,000 jobs each month.
By industry, leisure & hospitality was again the largest contributor to last month's job gains with 72,000 new workers coming into the sector during March. Temporary help services was the second-largest contributor to job growth last month with 65,000 workers joining the sector.
The labor force participation rate also ticked higher in March, rising to 62.6% from 62.5% in February. Average weekly hours worked fell slightly, to 34.4 from 34.5.
For more on this article, please click:
https://finance.yahoo.com/news/march-jobs-report-april-7-2023-123139159.html
