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Response to BumRushDaShow (Original post)

Fri Apr 2, 2021, 09:02 AM

2. From the source:

Payroll employment rises by 916,000 in March; unemployment rate edges down to 6.0%

Economic News Release

Employment Situation Summary USDL-21-0582
Transmission of material in this news release is embargoed until 8:30 a.m. (ET) Friday, April 2, 2021

Technical information:
Household data: cpsinfo@bls.gov * www.bls.gov/cps
Establishment data: cesinfo@bls.gov * www.bls.gov/ces

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


THE EMPLOYMENT SITUATION -- MARCH 2021


Total nonfarm payroll employment rose by 916,000 in March, and the unemployment rate edged down to 6.0 percent, the U.S. Bureau of Labor Statistics reported today. These improvements in the labor market reflect the continued resumption of economic activity that had been curtailed due to the coronavirus (COVID-19) pandemic. Job growth was widespread in March, led by gains in leisure and hospitality, public and private education, and construction.

This news release presents statistics from two monthly surveys. The household survey measures labor force status, including unemployment, by demographic characteristics. The establishment survey measures nonfarm employment, hours, and earnings by industry. For more information about the concepts and statistical methodology used in these two surveys, see the Technical Note.

Household Survey Data

The unemployment rate edged down to 6.0 percent in March. The rate is down considerably from its recent high in April 2020 but is 2.5 percentage points higher than its pre-pandemic level in February 2020. The number of unemployed persons, at 9.7 million, continued to trend down in March but is 4.0 million higher than in February 2020. (See table A-1. See the box note at the end of this news release for more information about how the household survey and its measures were affected by the coronavirus pandemic.)

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The labor force participation rate changed little at 61.5 percent in March. This measure is 1.8 percentage points lower than in February 2020. The employment-population ratio, at 57.8 percent, was up by 0.2 percentage point over the month but is 3.3 percentage points lower than in February 2020. (See table A-1.)

{snip}

Among those not in the labor force who currently want a job, the number of persons marginally attached to the labor force, at 1.9 million, was essentially unchanged in March but is up by 416,000 since February 2020. These individuals wanted and were available for work and had looked for a job sometime in the prior 12 months but had not looked for work in the 4 weeks preceding the survey. The number of discouraged workers, a subset of the marginally attached who believed that no jobs were available for them, was 523,000 in March, essentially unchanged from the previous month. (See Summary table A.)

Household Survey Supplemental Data

In March, 21.0 percent of employed persons teleworked because of the coronavirus pandemic, down from 22.7 percent in the prior month. These data refer to employed persons who teleworked or worked at home for pay at some point in the last 4 weeks specifically because of the pandemic.

In March, 11.4 million persons reported that they had been unable to work because their employer closed or lost business due to the pandemic--that is, they did not work at all or worked fewer hours at some point in the last 4 weeks due to the pandemic. This measure is down from 13.3 million in the previous month. Among those who reported in March that they were unable to work because of pandemic-related closures or lost business, 10.2 percent received at least some pay from their employer for the hours not worked, little changed from the previous month.

Among those not in the labor force in March, 3.7 million persons were prevented from looking for work due to the pandemic. This measure is down from 4.2 million the month before. (To be counted as unemployed, by definition, individuals must be either actively looking for work or on temporary layoff.)

These supplemental data come from questions added to the household survey beginning in May 2020 to help gauge the effects of the pandemic on the labor market. The data are not seasonally adjusted. Tables with estimates from the supplemental questions for all months are available online at www.bls.gov/cps/effects-of-the-coronavirus-covid-19-pandemic.htm.

Establishment Survey Data

Total nonfarm payroll employment increased by 916,000 in March but is down by 8.4 million, or 5.5 percent, from its pre-pandemic peak in February 2020. Job growth in March was widespread, with the largest gains occurring in leisure and hospitality, public and private education, and construction. (See table B-1. See the box note at the end of this news release for more information about how the establishment survey and its measures were affected by the coronavirus pandemic.)

{snip}

In March, average hourly earnings for all employees on private nonfarm payrolls fell by 4 cents to $29.96. Average hourly earnings for private-sector production and nonsupervisory employees, at $25.21, changed little (+2 cents). The large employment fluctuations over the past year--especially in industries with lower-paid workers--complicate the analysis of recent trends in average hourly earnings. (See tables B-3 and B-8.)

The average workweek for all employees on private nonfarm payrolls increased by 0.3 hour to 34.9 hours in March, following a decline of 0.4 hour in the prior month. In manufacturing, the workweek increased by 0.2 hour to 40.5 hours over the month, and overtime increased by 0.1 hour to 3.3 hours. The average workweek for production and nonsupervisory employees on private nonfarm payrolls rose by 0.3 hour to 34.3 hours. (See tables B-2 and B-7.)

The change in total nonfarm payroll employment for January was revised up by 67,000, from +166,000 to +233,000, and the change for February was revised up by 89,000, from +379,000 to +468,000. With these revisions, employment in January and February combined was 156,000 higher 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.)

_____________
The Employment Situation for April is scheduled to be released on Friday, May 7, 2021, at 8:30 a.m. (ET).

* * * * *

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