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Economy gains 236,000 jobs, unemployment rate 3.5 %

U.S. Employment Report

The nonfarm payrolls grew 236,000 in March, as faster hiring puts more money in the hands of consumers, what usually leads to an increase in spending,
Employment outside the farm sector grew by 236,000 workers in March and the jobless rate fell to 3.5 %, from 3.6 %, on the seasonally adjusted basis, reported by the Labor Department.

As the year goes on, companies have been hiring at a faster clip as Americans increase spending and consumer confidence rises, economists have seen a steady improvement in the jobs market and recruiting activity.
Current report confirms positive trends in the nonfarm payrolls. Total number of employed persons in the U.S. rose by 0.36 % to 160,89 millions, the biggest increases occurred in leisure and hospitality sectors up by 72,000 payrolls, the retail sector has lost -14,600 jobs.

At March 2023 Total number of unemployed persons deacreased to 5.84 millions, a deacrease of 97.00 thousands or -1.63 % from Feb. 2023, Unemployment rate decreased to 3.50 %, from 3.60% in previous month. In March 236,000 nonfarm payrolls were created.

Labor force

Average hourly earnings grew modestly in March by 0.27 % despite decrease in hours of production, on the seasonally adjusted basis, the hourly wages in utilities grew at the highest pace to $49.48, hourly earnings at other service sector fell the most to $29.24, reported by the Labor Department.
On a year-over-year basis, earnings were up 4.57 %, This is above the % year-over-year increase in the consumer price index in March.

The number of employed persons increased to 160.89 millions by 577.00 thousands or 0.36 % in March 2023.

Total Labor force increased to 166.73 millions.
Average weekly earnings where $1,141.39 dollars, in March 2023

Average Weekly Hours of Production


	The decline in the unemployment rate, which is based on a separate household survey, seemed solid. Unemployment decreased to 5.84 million, a decrease by -97,000 from 5.94 million in February by -1.63 % on the seasonally adjusted basis. About 480,000 entered the labor force in March as some discouraged job seekers return to the labor market, lifting the percentage of civilians who have or want a job up to 62.60 % from 62.50 %. Construction Industry fell to 38.90 hours per week, from Feb. 2023; Manufacturing Industry remained unchanged Durable goods Industry increased to 44.40 hours per week, Nondurable goods Industry advanced to 39.60 hours per week. Average Weekly Hours of Production for private serviceproviding industry fell to 33.30 hours per week, from Feb. 2023; Trade, transportation & utilities Industry grew to 34.20 hours per week, from Feb. 2023 . Financial activities Industry Average Weekly Hours of Production remained unchanged from Feb. 2023.

Average workweek fell by -0.29 % to 34.40hours, a decrease by $0.10 from 34.50 in February on the seasonally adjusted basis. This led to decline in average weekly earnings in the private sector to $1,141.39 from $1,141.61 in the previous month. Information Industry Average Weekly Hours of Production fell to 36.30 hours per week, from Feb. 2023; Professional & business services Industry fell to 36.30 hours per week, from Feb. 2023; Education & health services Industry advanced to 33.40 hours per week, from Feb. 2023; Leisure & hospitality Industry fell to 25.30 hours per week, from Feb. 2023; Other services Industry remained unchanged from Feb. 2023.

Employment Situation ( in millions or %)	March 2023 prel.	Feb. 2023 prel.	Dec. 2022 prel.	Nov. 2022 prel.	Oct. 2022 prel.	Sep. 2022 prel.
Unemployment rate	3.5 %	3.6 %	3.5 %	3.6 %	3.7 %	3.5 %
Number of unemployed persons	5.839	5.936	5.722	6.000	6.059	5.753
Number of Employed persons	160.892	160.315	159.244	158.527	158.608	158.936
Employment/population ratio	60.4 %	60.2 %	60.1 %	59.9 %	60 %	60.1 %
Civilian labor force	166.731	166.251	164.966	164.527	164.667	164.689
Participation rate	62.6 %	62.5 %	62.3 %	62.2 %	62.2 %	62.3 %
Civilian noninstitutional population	266.272	266.112	264.844	264.708	264.535	264.356
Persons who currently want a job outside CLF	4.925	5.103	5.176	5.528	5.717	5.834
EMPLOYMENT BY SELECTED INDUSTRY (Over-the-month change, in thousands)	March 2023 prel.	Feb. 2023 prel.	Dec. 2022 prel.	Nov. 2022 prel.	Oct. 2022 prel.	Sep. 2022 prel.
Nonfarm Payrolls	+236.0	+326.0	+223.0	+256.0	+261.0	+315.0
Total Private Payrolls	+189.0	+266.0	+220.0	+202.0	+233.0	+319.0
Goods-producing Payrolls	-7.0	+11.0	+40.0	+27.0	+33.0	+48.0
Mining & logging	+3.0	-	+4.0	+4.0	-	+3.0
Construction	-9.0	+12.0	+28.0	+15.0	+1.0	+22.0
Manufacturing Payrolls	+3.0	+3.0	+2.9	+3.1	+32.0	+23.0
Durable goods	+1.0	-2.0	+24.0	+8.0	+23.0	+13.0
Motor vehicles and parts	+3.7	+1.3	+7.4	+2.3	+4.8	+7.4
Nondurable goods	-2.0	+1.0	-16.0	-	+9.0	+10.0
Private service-providing Payrolls	+196.0	+255.0	+180.0	+175.0	+200.0	+271.0
Wholesale trade	+6.7	+10.9	+12.1	-1.3	+14.6	+11.6
Retail trade	-14.6	+41.3	+9.0	-16.8	+7.2	-7.6
Transportation and warehousing	+10.4	-20.5	+4.7	-21.7	+8.2	-11.3
Information	+6.0	-10.0	-5.0	+22.0	+4.0	+7.0
Financial activities	-1.0	-1.0	+5.0	+11.0	+3.0	+1.0
Professional and business services	+39.0	+55.0	-6.0	-8.0	+39.0	+52.0
Temporary help services	-10.7	+3.4	-35.0	-30.3	+11.8	+12.6
Education and health services	-	-	+78.0	+90.0	+79.0	+91.0
Health care and social assistance	+50.8	+73.0	+74.4	+73.3	+71.1	+80.7
Leisure and hospitality	+72.0	+90.0	+67.0	+79.0	+35.0	+107.0
Other services	-	-	-	-	-	-
Government Payrolls	-	-	-	-	-	-

Civilian labor force
is the sum of employed and unemployed persons.

Unemployment Rate
is the number unemployed as a percent of the labor force.

Labor force participation rate
is the labor force as a percent of the population.

Employment-population ratio
is the employed as a percent of the population.

Average weekly Salary by Industry ($)
Total private	-	-	-	-	-	-
Goods producing	-	-	-	-	-	-
Natural resources & mining	-	-	-	-	-	-
Construction	-	-	-	-	-	-
Manufacturing	-	-	-	-	-	-
Overtime hours	-	-	-	-	-	-
Durable goods	-	-	-	-	-	-
Nondurable goods	-	-	-	-	-	-
Private serviceproviding	-	-	-	-	-	-
Trade, transportation & utilities	-	-	-	-	-	-
Wholesale trade	-	-	-	-	-	-
Retail trade	-	-	-	-	-	-
Transportation & warehousing	-	-	-	-	-	-
Utilities	-	-	-	-	-	-

Information	-	-	-	-	-	-
Financial activities	-	-	-	-	-	-
Professional & business services	-	-	-	-	-	-
Education & health services	-	-	-	-	-	-
Leisure & hospitality	-	-	-	-	-	-
Other services	-	-	-	-	-	-

Average weekly hours of production by Industry	March 2023 prel.	Feb. 2023 prel.	Dec. 2022 prel.	Nov. 2022 prel.	Oct. 2022 prel.	Sep. 2022 prel.
Total private	34.40	34.50	34.30	34.40	34.50	34.50
Goods producing	39.90	40.00	39.70	39.70	40.00	39.90
Natural resources & mining	46.10	45.90	46.30	46.40	46.20	46.30
Construction	38.90	39.00	38.50	38.40	38.90	38.70
Manufacturing	40.30	40.30	40.10	40.20	40.40	40.30
Overtime hours	-	-	-	-	-	-
Durable goods	44.40	42.10	48.00	42.80	45.60	48.10
Nondurable goods	39.60	39.50	39.40	39.60	39.60	39.70
Private serviceproviding	33.30	33.40	33.30	33.40	33.50	33.50
Trade, transportation & utilities	34.20	34.10	33.90	34.00	34.00	34.00
Wholesale trade	38.80	38.80	38.80	38.90	38.80	38.90
Retail trade	30.30	30.20	30.00	30.10	30.10	30.10
Transportation & warehousing	38.20	38.40	38.20	38.20	38.60	38.50
Utilities	42.50	42.20	42.30	42.10	42.50	42.00

Information	36.30	36.40	36.40	36.70	36.50	36.60
Financial activities	37.40	37.40	37.20	37.40	37.50	37.40
Professional & business services	36.30	36.50	36.60	36.60	36.70	36.80
Education & health services	33.40	-	33.20	33.30	33.30	33.40
Leisure & hospitality	25.30	25.60	25.30	25.50	25.60	25.70
Other services	32.20	32.20	32.30	32.10	32.30	32.30

Average hourly earnings ($)	March 2023 prel.	Feb. 2023 prel.	Jan. 2023 prel.	Dec. 2022 prel.	Nov. 2022 prel.	Oct. 2022 prel.
Total private	33.18	33.09	33.03	32.82	32.73	32.58
Goods producing	33.50	33.34	33.24	33.10	32.98	32.84
Natural resources & mining	37.24	37.17	36.85	37.31	36.86	36.56
Construction	35.98	35.83	35.75	35.57	35.42	35.27
Manufacturing	31.83	31.67	31.57	31.44	31.36	31.23
Overtime hours	-	-	-	-	-	-
Durable goods	33.39	33.19	33.04	32.90	32.93	32.82
Nondurable goods	29.17	29.06	29.07	28.93	28.71	28.54
Private serviceproviding	33.10	33.03	32.98	32.76	32.67	32.52
Trade, transportation & utilities	28.59	28.55	28.35	28.21	28.17	28.00
Wholesale trade	36.23	36.15	36.26	35.93	35.71	35.52
Retail trade	23.79	23.78	23.53	23.42	23.44	23.16
Transportation & warehousing	28.47	28.45	28.08	28.37	28.42	28.43
Utilities	49.48	49.02	48.88	48.03	48.02	48.12

Information	47.96	47.94	47.78	47.80	47.62	47.45
Financial activities	42.67	42.54	42.48	42.45	42.12	42.11
Professional & business services	39.95	39.76	39.64	39.52	39.43	39.17
Education & health services	-	-	-	32.27	32.21	32.06
Leisure & hospitality	20.96	20.80	20.78	20.64	20.50	20.43
Other services	29.24	29.51	29.62	28.96	29.02	28.98

• Source: Department of Labor
Picture Autor: (Flickr by Brad & Sabrina at http://flickr.com/photos/19078064@N00/184665954)

At a Glance

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Average weekly hours of production

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Average hourly earnings

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Average weekly earnings

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