The unemployment rate didn’t have much movement for the month of March, coming in at 3.8%, the U.S. Bureau of Labor Statistics reported today. Unemployment stood at 3.9% in February.
Job gains occurred in just three industries: health care, government, and construction. Total nonfarm employment rose by 303,000 in March, which was higher than the average monthly gain of 231,000 over the last 12 months, and blew away estimates of 200,000.
There was little change in employment in the retail trade where 18,000 jobs were added. A job gain in general merchandise was partially offset by job losses in building material and garden equipment and supplies dealers, and in automotive parts, accessories, and tire retailers.
Average hourly earnings for all employees on private nonfarm payrolls increased by 12 cents, or 0.3%, to $34.69. Over the past year, average hourly earnings have increased 4.1%.
The average workweek nudged up by 0.1 hours to 34.4 hours.
