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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

 Employement situation (Picture Autor: Flickr by Brad & Sabrina at http://flickr.com/photos/19078064@N00/184665954) 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)




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