Job growth zoomed in March as payrolls jumped by 303,000 and unemployment dropped to 3.8%
Source: CNBC
Published Fri, Apr 5 2024 8:30 AM EDT Updated 1 Min Ago
Job creation in March easily topped expectations in a sign of continued acceleration for what has been a bustling and resilient labor market.
Nonfarm payrolls increased 303,000 for the month, well above the Dow Jones estimate for an increase of 200,000 and higher than the downwardly revised 270,000 gain in February, the Labor Departments Bureau of Labor Statistics reported Friday.
The unemployment rate edged lower to 3.8%, as expected, even though the labor force participation rate moved higher to 62.7%, a gain of 0.2 percentage point from February. A broader measure that includes discouraged workers and those holding part-time positions for economic reasons held steady at 7.3%.
In the key average hourly earnings measure, wages rose 0.3% for the month and 4.1% from a year ago, both in line with Wall Street estimates.
Read more: https://www.cnbc.com/2024/04/05/job-growth-totaled-303000-in-march-better-than-expected-and-unemployment-was-3point8percent.html
From the source -
Link to tweet
@BLS_gov
·
Follow
Payroll employment rises by 303,000 in March; unemployment rate changes little at 3.8% https://bls.gov/news.release/empsit.nr0.htm
#JobsReport #BLSdata
8:34 AM · Apr 5, 2024
Good morning DU. It's that Friday again. Stay tuned for DU's economy watchers for the deep dives and TGIF.

Article updated.
Previous articles/headline -
Job growth totaled 303,000 in March, better than expected, and unemployment was 3.8%
Job creation in March easily topped expectations in a sign of continued acceleration for what has been a bustling and resilient labor market. Nonfarm payrolls increased 303,000 for the month, well above the Dow Jones estimate for an increase of 200,000 and higher than the downwardly revised 270,000 gain in February, the Labor Department's Bureau of Labor Statistics reported Friday.
The unemployment rate edged lower to 3.8%, as expected.
In the key average hourly earnings measure, wages rose 0.3% for the month and 4.1% from a year ago, both in line with Wall Street estimates.
Job growth came from many of the usual sectors that have powered gains in recent months. Health care led with 72,000, followed by government (71,000), leisure and hospitality (49,000) and construction (39,000). Retail trade contributed 18,000 while the "other services" category added 16,000.
The U.S. economy added more jobs than expected in March in a sign of continued acceleration for what has been a bustling and resilient labor market.
Nonfarm payrolls increased 303,000 for the month, well above expectations for an increase of 200,000 and higher than the downwardly revised 270,000 gain in February, the Labor Department's Bureau of Labor Statistics reported Friday.
The unemployment rate held steady at 3.8%, as expected.
In the key average hourly earnings measure, wages rose 0.3% for the month and 4.1% from a year ago, both in line with Wall Street estimates.
This is breaking news. Please check back here for updates.
Original article -
Nonfarm payrolls were expected to increase by 200,000 in March and the unemployment rate was forecast to decrease to 3.8%, according to Dow Jones estimates.
This is breaking news. Please check back here for updates.

IronLionZion
(47,436 posts)


speak easy
(11,152 posts)up
gab13by13
(26,270 posts)Click on financial sites and there is a ton of negative fed speak, no not talking about Jerome. The Fed presidents from Richmond and Minneapolis are doing negative Fed speak claiming that because of high oil prices that keep inflation higher that we may have to postpone any interest rate cuts for the 2024 year. This caused a pretty big dip in the market but Jerome did a bit of a positive Fed speak and the markets recovered a bit.
I tried to do a thread yesterday talking about how high oil prices and negative Fed speak can affect the market and was attacked by my usual friends for being anti-Biden.
I can see what the anti-Biden folks want to do, that's all. Bidenomics is still winning the fight.
Johnny2X2X
(22,182 posts)This is what a great economy looks like. Wage growth in excess of inflation for a year running. Real wages higher today than in 2019 (before Covid).
I truly think this economy is doing so well because the economy is built on the backs of working people and working people spending is what fuels it. And real wages being higher today than in 2019 literally means the workinig class has more money to pump into the economy.
Not out of the woods yet on inflation, but if the Fed moves forward with their plans to cut rates in the next few months, Joe Biden will be running on the strongest economy any incumbant has run on in generations.
NoMoreRepugs
(10,932 posts)at record levels due in part to price gouging will only be addressed IF Dems win control of both chambers in November - GO DEMS! JoeB has managed the economy beautifully out of the morass trumpy created.
On edit, remember - 70% of GDP is consumer spending - the working public is driving this bus.
gab13by13
(26,270 posts)Joe doesn't do trickle down economics.
617Blue
(1,637 posts)mcar
(43,849 posts)
Bengus81
(7,873 posts)Coming in 10...9...8
NJCher
(38,695 posts)Headline news.
Splendiferous way to start the weekend.
Ty BumRush. 😀
Johnny2X2X
(22,182 posts)Yahoo Finance: 'US economy booms with 303,000 jobs added in March'
CNN: 'Blockbuster US jobs report surpasses all expectations'
Ray Bruns
(4,925 posts)
Johnny2X2X
(22,182 posts)Their business page headline was:
Former White House official makes devastating admission for Biden.
Then it was an article about someone saying prices are still too high. Oh the huge manitee!
Theyre pathetic. It Biden was a Republican theyd literally be throwing ticker tape parades for him and starting a petition that all paper money carry have the portraits in them changed to Bidens.
I wonder if FOX News viewers think the DOW is at -50,000? Because yesterday when it dropped 500 points it was a headline there all day. But today when its regained most of that its not even being covered.
RussBLib
(9,787 posts)...I read elsewhere that job cuts in March '24 were the most cuts since Jan of '23, but you never hear about the cuts any longer. Does the 303,000 jobs added figure include the total number of jobs cut?
Seems to me like that would be useful info.
https://russblib.blogspot.com/?m=1
progree
(11,543 posts)Its a good question and it comes up now and then.
I deal with this on my EF-0 Economic Statiscs page http://www.democraticunderground.com/111622439
The below was written back in 2018 but it's still true today though there are slight changes in the numbers used in the example).
# Facts: The number headlined by the Bureau of Labor Statistics and the media is the NET jobs created.
You can see a count of total nonfarm employment in thousands -- http://data.bls.gov/timeseries/CES0000000001
So for example in January 2018 the table displayed at the above link shows there were 147,767 thousand (i.e. 147.767 million) nonfarm employees, and in February 2018 there were 148,097 thousand (i.e. 148.097 million). The media and the BLS reports the difference (148,097 thousand - 147,767 thousand) = 330,000 as the total jobs created in Feburary. So this is a net number. ((4/5/24 Update: the numbers have been revised slightly since the post was written, they are now January 147,667 thousand and February 148,054 thousand for a net increase of 387 thousand))
At the same link, you can see the monthly differences by clicking on the "More Formatting Options" big blue link near the upper right of the page, and in the box in the upper left side of the page that appears, you will see the "Original Data Value" checkbox checked. Additionally, check the "1-month Net Change" checkbox. Then click the "Retrieve Data" button below it.
On the page that appears, you will see the table described in the paragraph above (the total number of nonfarm employees in thousands) followed by a table of the monthly changes in these numbers. For example, it will show the February 2018 employee count change as being 330,000 -- that is 330,000 employees higher than in February. ((Update 4/5/24 - with revisions since I wrote the above it is 387,000 ))
(Or click this link just to see the monthly changes: http://data.bls.gov/timeseries/CES0000000001?output_view=net_1mth)
BRDS in the OP also gave the link to the "from the source", https://www.bls.gov/news.release/empsit.nr0.htm
Table B-1 shows the total nonfarm payroll totals for the past 3 months as well as the net change for latest month.
Nonfarm payroll jobs IN THOUSANDS
January 2024: 157,830
February 2024: 158,133
Change from Feb.2024-Mar.2024: 303
Same as the numbers at http://data.bls.gov/timeseries/CES0000000001
Edited to add - this is my first post since December 13. But I've been lurking religiously ever since. I just had to come out of posting "retirement" because I didn't want there to be doubt on this issue. After all, with 200,000+ new initial claims for unemployment insurance every week that means 800,000+ jobs lost in the course of a month (assuming there aren't huge numbers of pseudo-claims).
maxsolomon
(35,724 posts)Use the magic wand to lower gas & egg prices, or I vote for the Worst Person in America!
LetMyPeopleVote
(157,734 posts)Johnny2X2X
(22,182 posts)Sounds about right.
onetexan
(13,913 posts)






mahatmakanejeeves
(62,695 posts)Total nonfarm payroll employment rose by 303,000 in March, and the unemployment rate changed little at 3.8 percent. Job gains occurred in health care, government, and construction.
Employment Situation Summary
Transmission of material in this news release is embargoed until 8:30 a.m. (ET) Friday, April 5, 2024
Technical information:
Household data: (202) 691-6378 * [email protected] * www.bls.gov/cps
Establishment data: (202) 691-6555 * [email protected] * www.bls.gov/ces
Media contact: (202) 691-5902 * [email protected]
THE EMPLOYMENT SITUATION -- MARCH 2024
Total nonfarm payroll employment rose by 303,000 in March, and the unemployment rate changed little at 3.8 percent, the U.S. Bureau of Labor Statistics reported today. Job gains occurred in health care, government, and construction.
This news release presents statistics from two monthly surveys. The household survey measures labor force status, including unemployment, by demographic characteristics. The establishment survey measures nonfarm employment, hours, and earnings by industry. For more information about the concepts and statistical methodology used in these two surveys, see the Technical Note.
Household Survey Data
Both the unemployment rate, at 3.8 percent, and the number of unemployed people, at 6.4 million, changed little in March. The unemployment rate has been in a narrow range of 3.7 percent to 3.9 percent since August 2023. (See table A-1.)
Among the major worker groups, the unemployment rate for Blacks (6.4 percent) increased in March, while the rates for Asians (2.5 percent) and Hispanics (4.5 percent) decreased. The jobless rates for adult men (3.3 percent), adult women (3.6 percent), teenagers (12.6 percent), and Whites (3.4 percent) showed little or no change over the month. (See tables A-1, A-2, and A-3.)
The number of long-term unemployed (those jobless for 27 weeks or more), at 1.2 million, was little changed in March. The long-term unemployed accounted for 19.5 percent of all unemployed people. (See table A-12.)
Both the labor force participation rate, at 62.7 percent, and the employment-population ratio, at 60.3 percent, were little changed in March. These measures showed little change over the year. (See table A-1.)
The number of people employed part time for economic reasons, at 4.3 million, changed little in March. These individuals, who would have preferred full-time employment, were working part time because their hours had been reduced or they were unable to find full-time jobs. (See table A-8.)
In March, the number of people not in the labor force who currently want a job, at 5.4 million, was little changed. These individuals were not counted as unemployed because they were not actively looking for work during the 4 weeks preceding the survey or were unavailable to take a job. (See table A-1.)
Among those not in the labor force who wanted a job, the number of people marginally attached to the labor force, at 1.6 million, was little changed in March. These individuals wanted and were available for work and had looked for a job sometime in the prior 12 months but had not looked for work in the 4 weeks preceding the survey. The number of discouraged workers, a subset of the marginally attached who believed that no jobs were available for them, was little changed at 337,000 in March. (See Summary table A.)
Establishment Survey Data
Total nonfarm payroll employment rose by 303,000 in March, higher than the average monthly gain of 231,000 over the prior 12 months. In March, job gains occurred in health care, government, and construction. (See table B-1.)
Health care added 72,000 jobs in March, above the average monthly gain of 60,000 over the prior 12 months. In March, job growth continued in ambulatory health care services (+28,000), hospitals (+27,000), and nursing and residential care facilities (+18,000).
In March, employment in government increased by 71,000, higher than the average monthly gain of 54,000 over the prior 12 months. Over the month, employment increased in local government (+49,000) and federal government (+9,000).
Construction added 39,000 jobs in March, about double the average monthly gain of 19,000 over the prior 12 months. Over the month, employment increased in nonresidential specialty trade contractors (+16,000).
Employment in leisure and hospitality trended up in March (+49,000) and has returned to its pre-pandemic February 2020 level. Over the prior 12 months, job growth in the industry had averaged 37,000 per month.
Employment in the other services industry continued its upward trend in March (+16,000). The industry had added an average of 8,000 jobs per month over the prior 12 months. Employment in other services remains below its February 2020 level by 40,000, or 0.7 percent.
Employment in social assistance continued to trend up in March (+9,000), below the average monthly gain of 22,000 over the prior 12 months.
In March, employment was little changed in retail trade (+18,000). A job gain in general merchandise retailers (+20,000) was partially offset by job losses in building material and garden equipment and supplies dealers (-10,000) and in automotive parts, accessories, and tire retailers (-3,000).
Employment showed little or no change over the month in other major industries, including mining, quarrying, and oil and gas extraction; manufacturing; wholesale trade; transportation and warehousing; information; financial activities; and professional and business services.
In March, average hourly earnings for all employees on private nonfarm payrolls increased by 12 cents, or 0.3 percent, to $34.69. Over the past 12 months, average hourly earnings have increased by 4.1 percent. In March, average hourly earnings of private-sector production and nonsupervisory employees edged up by 7 cents, or 0.2 percent, to $29.79. (See tables B-3 and B-8.)
In March, the average workweek for all employees on private nonfarm payrolls edged up by 0.1 hour to 34.4 hours. In manufacturing, the average workweek was unchanged at 40.0 hours, and overtime edged down by 0.1 hour to 2.9 hours in March. The average workweek for production and nonsupervisory employees on private nonfarm payrolls edged up by 0.1 hour to 33.9 hours. (See tables B-2 and B-7.)
The change in total nonfarm payroll employment for January was revised up by 27,000, from +229,000 to +256,000, and the change for February was revised down by 5,000, from +275,000 to +270,000. With these revisions, employment in January and February combined is 22,000 higher than previously reported. (Monthly revisions result from additional reports received from businesses and government agencies since the last published estimates and from the recalculation of seasonal factors.)
____________
The Employment Situation for April is scheduled to be released on Friday, May 3, 2024, at 8:30 a.m. (ET).
{snip the tables and stuff}
BumRushDaShow
(146,840 posts)
roamer65
(37,342 posts)Probably another 25-75 bps.
BumRushDaShow
(146,840 posts)and expecting a recession and high unemployment due to (fictional) assumption that the Fed would be following what was done in the '70s.
4lbs
(7,395 posts)the relatively high minimum wages here in California. $16 per hour or $20 per hour for certain fast food places.
In several weeks they will promote me and put me at $25 per hour. In just 5 or 6 months. No problem here.
Add in one or two more jobs, close-by at $16 per hour, part-time, and I'll be a happy boy this summer.
EDIT: With me working additional part-time jobs, that means there are more jobs available than workers, in my area. Even at $16 to $20 per hour, we are having some difficulty finding workers.
It's a "buyer's/worker's" market.
progree
(11,543 posts)Last edited Thu May 2, 2024, 06:01 PM - Edit history (1)
https://www.democraticunderground.com/10143221098#post24Quiet edit to add links to make them easier for me to find next time:
TITLE: LINKS to some BLS Data Series Numbers and Graphs
Table A - Summary of Household Survey (produces unemployment rate, labor force participation rate) - https://www.bls.gov/news.release/empsit.a.htm
Table B - Summary of Establishment Survey (produces the headline payroll jobs number and the average earnings) - https://www.bls.gov/news.release/empsit.b.htm
Every one of these data series comes with a table and graph:
# Nonfarm Employment (Establishment Survey, https://data.bls.gov/timeseries/CES0000000001
Monthly changes (in thousands): https://data.bls.gov/timeseries/CES0000000001?output_view=net_1mth
NOT SEASONALLY ADJUSTED: https://data.bls.gov/timeseries/CEU0000000001
# Employed in thousands from the separate Household Survey, http://data.bls.gov/timeseries/LNS12000000
Monthly changes (in thousands): http://data.bls.gov/timeseries/LNS12000000?output_view=net_1mth
NOT SEASONALLY ADJUSTED: https://data.bls.gov/timeseries/LNU02000000
# Nonfarm PRIVATE Employment (Establishment Survey, https://data.bls.gov/timeseries/CES0500000001
Monthly changes: https://data.bls.gov/timeseries/CES0500000001?output_view=net_1mth
^-Good for comparison to the ADP report that typically comes out a few days earlier
NOT SEASONALLY ADJUSTED: https://data.bls.gov/timeseries/CEU0500000001
Earnings of Production and Non-Supervisor Workers (PANSW)
. . . # INFLATION ADJUSTED Hourly Earnings of PANSW http://data.bls.gov/timeseries/CES0500000032
. . . # INFLATION ADJUSTED Weekly Earnings of PANSW http://data.bls.gov/timeseries/CES0500000031
----- Nominal means NOT inflation adjusted. Just plain ordinary greenbacks ----
. . . # Nominal Hourly Earnings of PANSW- http://data.bls.gov/timeseries/CES0500000008
. . . # Nominal Weekly Earnings of PANSW - http://data.bls.gov/timeseries/CES0500000030
# Labor Force http://data.bls.gov/timeseries/LNS11000000?output_view=net_1mth
The labor force is the sum of employed and unemployed. To count as unemployed, one must have actively sought work in the past 4 weeks (just looking at want ads and job postings doesn't count)
# ETPR (Employment-To-Population Ratio) aka Employment Rate http://data.bls.gov/timeseries/LNS12300000
# LFPR (Labor Force Participation rate) http://data.bls.gov/timeseries/LNS11300000
Unemployed, Unemployment Rate
# Unemployed http://data.bls.gov/timeseries/LNS13000000
# Unemployment rate http://data.bls.gov/timeseries/LNS14000000
# Black unemployment rate (%), https://data.bls.gov/timeseries/LNS14000006
# Hispanic or Latino unemployment rate (%), https://data.bls.gov/timeseries/LNS14000009
# White unemployment rate (%), https://data.bls.gov/timeseries/LNS14000003
# U-6 unemployment rate http://data.bls.gov/timeseries/LNS13327709
------------ end unemployed, unemployment rates --------
# NILF -- Not in Labor Forcehttp://data.bls.gov/timeseries/LNS15000000
# NILF-WJ -- Not in Labor Force, Wants Job http://data.bls.gov/timeseries/LNS15026639
# Part-Time Workers who want Full-Time Jobs (Table A-8's Part-Time For Economic Reasons) http://data.bls.gov/timeseries/LNS12032194
# Part-Time Workers (Table A-9) http://data.bls.gov/timeseries/LNS12600000
# Full-Time Workers (Table A-9) http://data.bls.gov/timeseries/LNS12500000
# Multiple Job holders (Table A-9) - http://data.bls.gov/timeseries/LNS12026619
# Multiple Jobholders as a Percent of Employed (Table A-9) https://data.bls.gov/timeseries/LNS12026620
# Civilian non-institutional population
Seasonally adjusted (they seem to have gotten rid of this) https://data.bls.gov/timeseries/LNS10000000
NOT seasonally adjusted: https://data.bls.gov/timeseries/LNU00000000
. . In Table A-1 https://www.bls.gov/news.release/empsit.t01.htm they show the same numbers for seasonally adjusted and non-seasonally adjusted
LFPR - Labor Force Participation Rate for some age groups
The LFPR is the Employed + jobless people who have looked for work in the last 4 weeks (and say they want a job and are able to take one if offered. Looking for work involves more than just looking at job listings). All divided by the civilian non-institutional population age 16+ (in the case of the regular LFPR, or divided by the civilian non-institutional population of whatever age, gender, race etc. for the various sub-demographic measures. For example. the LFPR of age 25-54 females is the number of those employed or actively seeking work divided by the civilian non-institutional population of age 25-54 females.)
SA means Seasonally adjusted. NSA means Not Seasonally Adjusted
16+: SA: http://data.bls.gov/timeseries/LNS11300000 NSA: http://data.bls.gov/timeseries/LNU01300000
25-34: SA: http://data.bls.gov/timeseries/LNS11300089 NSA: http://data.bls.gov/timeseries/LNU01300089
25-54: SA: http://data.bls.gov/timeseries/LNS11300060 NSA: http://data.bls.gov/timeseries/LNU01300060
55-64: -------------------- NSA: https://data.bls.gov/timeseries/LNU01300095
55+: SA: http://data.bls.gov/timeseries/LNS11324230 NSA: http://data.bls.gov/timeseries/LNU01324230
65+: SA: ---------------- NSA: http://data.bls.gov/timeseries/LNU01300097
LFPR - Labor Force Particpation Rate (prime age 25-54) by gender
All: http://data.bls.gov/timeseries/LNS11300060
Men: http://data.bls.gov/timeseries/LNS11300061
Women: http://data.bls.gov/timeseries/LNS11300062
More LFPR links including by race: https://www.democraticunderground.com/111695870
ETPR - Employment to Population Ratio for some age groups
SA means Seasonally adjusted. NSA means Not Seasonally Adjusted
16+: SA: http://data.bls.gov/timeseries/LNS12300000 NSA: http://data.bls.gov/timeseries/LNU02300000
25-34: http://data.bls.gov/timeseries/LNS12300089 NSA: http://data.bls.gov/timeseries/LNU02300089
25-54: SA: http://data.bls.gov/timeseries/LNS12300060 NSA: http://data.bls.gov/timeseries/LNU02300060
55-64: SA: ---------------- NSA: https://data.bls.gov/timeseries/LNU02300095
55+: SA: http://data.bls.gov/timeseries/LNS12324230 NSA: http://data.bls.gov/timeseries/LNU02324230
65+: SA: ---------------- NSA: http://data.bls.gov/timeseries/LNU02300097
Data series finder (employment/unemployment related): https://www.bls.gov/data/#employment
The entire report: http://www.bls.gov/news.release/pdf/empsit.pdf
Inflation rate (CPI)
. . . Monthly report: https://www.bls.gov/news.release/cpi.nr0.htm
. . . Regular CPI: https://data.bls.gov/timeseries/CUSR0000SA0?output_view=pct_1mth
. . . Core CPI: http://data.bls.gov/timeseries/CUSR0000SA0L1E?output_view=pct_1mth
. . . Energy: https://data.bls.gov/timeseries/CUSR0000SA0E?output_view=pct_1mth
. . . Food: https://data.bls.gov/timeseries/CUSR0000SAF1?output_view=pct_1mth
. . . Food at home (groceries): https://data.bls.gov/timeseries/CUSR0000SAF11?output_view=pct_1mth
. . . Calculator at: https://www.bls.gov/data/inflation_calculator.htm
. . . One Screen Data Search for CPI components: https://data.bls.gov/PDQWeb/cu
Grocery prices (food at home) inflation compared to overall inflation rate
. . . . . https://www.in2013dollars.com/Food-at-home/price-inflation
. . . From 1947 to 2021 and from 2000 to 2021, food at home inflation very slightly lagged the overall inflation rate
. . . . . https://www.democraticunderground.com/10142735789
Archives of previous reports - The monthly payroll employment reports from the BLS are archived at Archived News Releases (https://www.bls.gov/bls/news-release/ ). In the list up at the top, under Major Economic Indicators, select Employment Situation ( https://www.bls.gov/bls/news-release/empsit.htm ). That opens up links to reports going back to 1994.
BumRushDaShow
(146,840 posts)