Author Topic: March 2019 Back Into The Black: 196,000 Jobs Added, Unemployment Steady At 3.8%  (Read 1017 times)

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Offline SirLinksALot

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SOURCE: HOTAIR

URL: https://hotair.com/archives/2019/04/05/march-back-black-196000-jobs-added-unemployment-steady-3-8/

by Ed Morrissey



So much for the winter doldrums. After an unexpected pothole in job creation in February, the US economy rebounded in March to add 196,000 jobs. Unemployment remained steady, although that came in part from a slight drop in the labor force. The news was especially good in the health-care industry:

Quote
Total nonfarm payroll employment increased by 196,000 in March, and the unemployment rate was unchanged at 3.8 percent, the U.S. Bureau of Labor Statistics reported today. Notable job gains occurred in health care and in professional and technical services.  …

Total nonfarm payroll employment increased by 196,000 in March, with notable gains in health care and in professional and technical services. Employment growth averaged 180,000 per month in the first quarter of 2019, compared with 223,000 per month in 2018. (See table B-1.)

Health care added 49,000 jobs in March and 398,000 over the past 12 months. Over the month, employment increased in ambulatory health care services (+27,000), hospitals (+14,000), and nursing and residential care facilities (+9,000). Employment in professional and technical services grew by 34,000 in March and 311,000 over the past 12 months. In March, computer systems design and related services added 12,000 jobs. Employment continued to trend up in architectural and engineering services (+6,000) and in management and technical consulting services (+6,000).

Wage growth continued at a modest pace, ticking up four dollars a week, and the average workweek expanded a little as well. For that matter, the revisions to previous months were all modestly positive, adding in 14,000 more jobs than previously reported in the last two months combined.

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Offline SirLinksALot

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From Zero Hedge:https://www.zerohedge.com/news/2019-04-05/strong-jobs-headline-hides-broad-based-weakness


March jump was entirely due to part-time workers, which rose by 60K, while full-time workers dropped by 190K, the biggest monthly decline since August 2018.






Offline SirLinksALot

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Q1 Construction and Manufacturing payrolls were the weakest since 2016. Furthermore, March was the worst month for manufacturing since August 2016.


Offline berdie

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So does this boil down to the books being cooked as they have in the past?

Offline jmyrlefuller

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So does this boil down to the books being cooked as they have in the past?
I think part of it may be closer to a leveling off as the potential labor force shrinks.
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