April 19, 2019
Solid Job Growth for March Despite Decrease in February
March resulted in positive job growth with employers adding an additional 196,000 jobs with considerable job gains in the healthcare and professional/technical services. Employment growth averaged 180,000 per month in the first quarter compared to the 223,000 per month in 2018 and this month the unemployment rate remained the same at 3.8 percent. The number of unemployed persons remained unchanged at 6.2 million.
During the month of March, the number of long-term unemployed (those jobless for 27 weeks or more) showed minimal to no change at 130 million and accounts for 21.1 percent of those unemployed. With the labor force participation rate at 63 percent, it showed slight change over the course of the month and little movement on net over the past 12 months. In addition, the number of persons employed part-time for economic reasons (referred to as involuntary part-time workers) showed small changes at 4.5 million in March. To explain, these are individuals who would have preferred to have full-time employment and were working part-time due to their hours being reduced or unable to find full-time employment.
Job gains occurred in health care adding 49,000 jobs and 398,000 over the past 12 months. This growth increased employment in ambulatory health care services (+27,000), hospitals (+14,000) and nursing/ residential care facilities (+9,000). In addition, there was a significate increase in the professional and technical services of 34,000 and 311,000 over the past 12 months. The growth increased employment in design and related services (+12,000), architectural engineering services (+6,000) and management and technical consulting services (+6,000). Employment also showed an upward trend in food services and drinking (+27,000) as well in construction (+16,000) with an increase of 246,000 over the past 12 months.
In March, average hourly earnings for all employees on private nonfarm payrolls increased by 4 cents to $27.70, following a 10-cent gain in February. Over the past 12 months, average hourly earnings have increased by 3.2 percent. Average hourly earnings of private-sector production and nonsupervisory employees increased by 6 cents to $23.24 in March.
With the revisions of both the January and February’s job reports, the number of jobs went from +311,000 to +312,000 for January and +20,000 to +30,000 for February – combined there were 14,000 more jobs than previously reported. These changes show a continual growth in employment and the upward trend of different sectors benefiting from this positive job growth.