Another “Unexpected” Economic Data: March Employment Report
Total non-farm employment increased by 162,000 which is “unexpectedly” below estimates of 190,000 to 200,000. The three top gains were in: Temporary Help +40K, Health + 37, and of course government (Census workers) +39. The unemployment rate was unchanged at 9.7%. The broad measure of unemployment increased from 16.8% to 16.9%. Way to go Zero!
Employment in federal government was up over the month, reflecting the hiring of
48,000 temporary workers for the decennial census.
Establishment Survey Data
In March, nonfarm payroll employment rose by 162,000. Job growth continued in tem-
porary help services and in health care. Federal government employment increased
due to the hiring of temporary workers for Census 2010. Job losses continued in
financial activities and in information. (See table B-1.)
Temporary help services added 40,000 jobs in March. Since September 2009, tempor-
ary help services employment has risen by 313,000.
Employment in health care continued to increase in March (27,000), with the larg-
est gains occurring in ambulatory health care services (16,000) and in nursing and
residential care facilities (9,000).
In March, employment in mining increased by 8,000. Monthly job gains in mining
have averaged 6,000 over the past 5 months.
Employment in federal government was up over the month, reflecting the hiring of
48,000 temporary workers for the decennial census.
Manufacturing employment continued to trend up in March (17,000); the industry has
added 45,000 jobs in the first 3 months of 2010. Over the month, job gains were
concentrated in fabricated metal products (9,000) and in machinery (6,000).
Employment in construction held steady (15,000) in March. The industry had lost an
average of 72,000 jobs per month in the prior 12 months.
Over the month, employment changed little in transportation and warehousing,
leisure and hospitality, retail trade, and wholesale trade.
In March, financial activities shed 21,000 jobs, with the largest losses occur-
ring in insurance carriers and related activities (-9,000). Employment in the
information industry decreased by 12,000.
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