Written By ESR News Blog Editor Thomas Ahearn
The U.S. economy increased by 215,000 jobs in March while the unemployment rate rose slightly to 5.0, according to ‘THE EMPLOYMENT SITUATION — MARCH 2016’ released by the U.S. Department of Labor’s Bureau of Labor Statistics (BLS).
The March 2016 jobs report found that the number of unemployed persons increased to 8.0 million. Employment gains occurred in retail trade, construction, and health care.
- Retail trade employment added 48,000 jobs in March. Over the past 12 months, retail trade has added 378,000 jobs.
- Construction employment rose by 37,000 jobs in March. Over the year, construction has added 301,000 jobs.
- Health care employment increased by 37,000 jobs over the month, about in line with the average monthly gain over the prior 12 months. Over the year, health care employment has increased by 503,000 jobs.
- Food services and drinking places employment added 25,000 jobs while financial activities employment increased by 15,000 jobs during the month.
- Professional and business services employment changed little for the third month in a row. In 2015, the industry added an average of 52,000 jobs per month.
On the negative side, manufacturing employment declined by 29,000 jobs while mining employment lost 12,000 jobs in March. Employment in other major industries including wholesale trade, transportation and warehousing, information, and government changed little over the month.
The change in employment for January was revised from 172,000 jobs added to 168,000 jobs added and the change for February was revised from 242,000 jobs added to 245,000 jobs added. With these revisions, employment gains in January and February were 1,000 jobs less than previously reported.
The ‘EMPLOYMENT SITUATION’ is released by the Bureau of Labor Statistics on the first Friday of every month. The report for April 2016 is scheduled to be released on May 6, 2016. Until that day, the current report will be available at http://www.bls.gov/news.release/empsit.nr0.htm.
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