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Fri Apr 6, 2018, 08:32 AM

Payroll employment edges up by 103,000 in March; unemployment rate unchanged at 4.1% [View all]

Source: U.S. Bureau of Labor Statistics

Economic News Release USDL-18-0508

Employment Situation Summary
Transmission of material in this news release is embargoed until 8:30 a.m. (EDT) Friday, April 6, 2018.

Technical information:
Household data: (202) 691-6378 * cpsinfo@bls.gov * www.bls.gov/cps
Establishment data: (202) 691-6555 * cesinfo@bls.gov * www.bls.gov/ces

Media contact: (202) 691-5902 * PressOffice@bls.gov


THE EMPLOYMENT SITUATION -- MARCH 2018

Total nonfarm payroll employment edged up by 103,000 in March, and the unemployment rate was unchanged at 4.1 percent, the U.S. Bureau of Labor Statistics reported today. Employment increased in manufacturing, health care, and mining.

Household Survey Data

In March, the unemployment rate was 4.1 percent for the sixth consecutive month, and the number of unemployed persons, at 6.6 million, changed little. (See table A-1.)
....

The labor force participation rate, at 62.9 percent, changed little in March, and the employment-population ratio held at 60.4 percent. (See table A-1.)
....

Establishment Survey Data

Total nonfarm payroll employment edged up by 103,000 in March, following a large gain in February (+326,000). In March, employment grew in manufacturing, health care, and mining. (See table B-1.)

In March, employment in manufacturing rose by 22,000, with all of the gain in the durable goods component. Employment in fabricated metal products increased over the month (+9,000). Over the year, manufacturing has added 232,000 jobs; the durable goods component accounted for about three-fourths of the jobs added.
....

Employment in mining increased by 9,000 in March, with gains occurring in support activities for mining (+6,000) and in oil and gas extraction (+2,000). Mining employment has risen by 78,000 since a recent low in October 2016.
....

In March, average hourly earnings for all employees on private nonfarm payrolls rose by 8 cents to $26.82. Over the year, average hourly earnings have increased by 71 cents, or 2.7 percent. Average hourly earnings for private-sector production and nonsupervisory employees increased by 4 cents to $22.42 in March. (See tables B-3 and B-8.)

The change in total nonfarm payroll employment for January was revised down from +239,000 to +176,000, and the change for February was revised up from +313,000 to +326,000. With these revisions, employment gains in January and February combined were 50,000 less than previously reported. (Monthly revisions result from additional reports received from businesses and government agencies since the last published estimates and from the recalculation of seasonal factors.) After revisions, job gains have averaged 202,000 over the last 3 months.

_____________
The Employment Situation for April is scheduled to be released on Friday, May 4, 2018, at 8:30 a.m. (EDT).

Read more: https://www.bls.gov/news.release/empsit.nr0.htm



Ooooh, well below expected. No boastful tweets today. January revised down a lot; February revised up a little.

-- -- -- --

Check here for commentary:

Jobless Rate Expected to Fall to 4% for First Time Since 2000

https://www.wsj.com/livecoverage/march-jobs-analysis

3m
Revisions Subtract 50,000, But Hiring Remains Strong
Figures for January and February were revised, subtracting 50,000 jobs from the first two months of the year. The U.S. added 326,000 in February and 176,000 in January.

Still, through the first three months of the year, employers have added an average of 202,000 workers to payrolls, outpacing 2017's average monthly growth of 182,000. That runs counter to economists' expectation for hiring to broadly ease as the labor market tightens.

Ben Eisen, Eric Morath
3m
Year-Over-Year Wage Gain 2.7% In March
Average hourly earnings for private-sector workers rose to $26.82 in March from the previous month. The figure is 2.7% above the hourly wages workers saw in March last year, which is broadly in line with the moderate pace of wage gains so far this year.

Harriet Torry

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Reply Payroll employment edges up by 103,000 in March; unemployment rate unchanged at 4.1% [View all]
mahatmakanejeeves Apr 2018 OP
BumRushDaShow Apr 2018 #1
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Upstate One Apr 2018 #9
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