An old English proverb describes typical March weather as “in like a lion and out like a lamb.”
The jobs report for March went out like a lion as ‘THE EMPLOYMENT SITUATION — MARCH 2014’ released by the U.S. Department of Labor’s Bureau of Labor Statistics (BLS) showed private-sector employment in the United States added 192,000 jobs during the month.
The jobs report also found the unemployment rate and the number of unemployed persons remained unchanged at 6.7 percent and 10.5 million respectively.
Over the year, the number of unemployed persons and the unemployment rate were down by 1.2 million and 0.8 percentage point respectively.
In addition, the jobs report for January 2014 was revised from 129,000 jobs added to 144,000 jobs added and the jobs report for February 2014 was revised from 175,000 jobs added to 197,000 jobs added. With these revisions, employment gains in January and February were 37,000 jobs higher than previously reported.
The jobs report for March 2014 found job gains occurred in professional and business services, food services and drinking places, construction, and health care. Job growth averaged 183,000 jobs per month over the prior 12 months. Among specific industries, the jobs report found:
- Professional and business services added 57,000 jobs in March 2014, in line with its average monthly gain of 56,000 over the prior 12 months.
- Food services and drinking places added 30,000 jobs in March 2014. Over the past year, food services and drinking places have added 323,000 jobs.
- Construction employment added 19,000 jobs in March 2014. Over the past year, construction employment has risen by 151,000 jobs.
- Health care added 19,000 jobs in March 2014, and job growth in health care averaged 17,000 jobs per month over the prior 12 months.
- Mining and logging employment rose by 7,000 jobs in March 2014. Over the prior 12 months, the mining and logging industry added an average of 3,000 jobs per month.
Employment in government and other major industries including manufacturing, wholesale trade, retail trade, transportation and warehousing, information, and financial activities changed little over the month.
The jobs report for April 2014 is scheduled to be released on Friday, May 2, 2014.
The current jobs report is available at http://www.bls.gov/news.release/pdf/empsit.pdf.