Payroll Jobs +215,000, Unemployment Rate Ticks Up To 5.0% As More People Enter Labor Force

Initial Reaction

Today’s employment report shows an increase of 215,000 jobs, very close to the Bloomberg consensus estimate of 210,000 jobs.

The Household Survey and Payroll Survey (Establishment Survey), were in sync this month. There was not another surge in part-time employment.

There were no major revisions.

Year-on-year hourly earnings are up a somewhat disappointing 2.3 percent. Average hours worked did not change, also a disappointment.

Let’s dive into the details in the BLS Employment Situation Summary, unofficially called the Jobs Report.

BLS Jobs Statistics at a Glance

Employment Report

Please consider the Bureau of Labor Statistics (BLS) Current Employment Report.

Total nonfarm payroll employment rose by 215,000 in March, and the unemployment rate was little changed at 5.0 percent, the U.S. Bureau of Labor Statistics reported today. Employment increased in retail trade, construction, and health care. Job losses occurred in manufacturing and mining.

Unemployment Rate – Seasonally Adjusted

Nonfarm Employment Change from Previous Month

Nonfarm Employment Change from Previous Month by Job Type

Hours and Wages

Average weekly hours of all private employees was flat at 34.4 hours. Average weekly hours of all private service-providing employees was flat at 33.3 hours. Average weekly hours of manufacturers declined 0.1 to 40.6 hours.