March Jobs Report
The Bureau of Labor Statistics is expected to release U.S. joblessness data at 8:30 a.m. EDT, April 4. Watch here for live news, updates and analysis.
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Here's the March jobs report.The US economy added 192,000 jobs, unemployment was unchanged at 6.7%. The number of long-term unemployed Americans is basically constant at 3.7 million. February's number was revised up to 197,000 and average hourly earnings fell by a cent and are up just 2.1% since last March.The headline numbers of jobs added and the overall unemployment are, however, becoming less relevant indicators of how strong or weak the labor market actually is. The US has been adding jobs at a low but steady rate for years, and unemployment has been falling. But the debate about what economists call slack in the labor market focuses on other indicators: wage growth (which has not been strong for several years), long-term unemployment, and the percentage of Americans participating in the jobs market.Last week Janet Yellen said what many Americans have felt: the job market is far from its full potential, and in some respects, is still weak. As Evan Soltas put it, it seems like "the job market is working for some even as it fails others".
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Reminders of consensus:
Payrolls +195k
Private +205k
Unemployment 6.6%
Hourly earnings +0.2%
Workweek 34.4 hours
biz.yahoo.com/c/e.htmlby Justin Wolfers via twitter 4/4/2014 12:29:25 PM -
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Long-term unemployment basically unchanged: 3.7 million Americans out of work for 27 weeks or more 1.usa.gov/13pzDF3by Ben Walsh via twitter 4/4/2014 12:34:30 PM -
March Meh for the jobs reportby JimPethokoukis via twitter 4/4/2014 12:34:31 PM -
Average hourly earnings give back a penny, still up 2.1% over past year, faster than rate of inflation.by Ben Casselman via twitter 4/4/2014 12:34:40 PM -
Average hourly earnings a bit disappointing - flat.by James Saft via twitter 4/4/2014 12:35:45 PM -
I'd much rather see flat unemployment with people rejoining job market than falling unemployment + falling labor force.by Neil Irwin via twitter 4/4/2014 12:36:23 PM -
The broader U-6 rate actually ticked up to 12.7%, gone nowhere so far in 2014by JimPethokoukis via twitter 4/4/2014 12:37:11 PM
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Overall jobs report not world beating, but no disaster. Unlikely to change arc of Fed taper or eventual (long in future) rate rise.by James Saft via twitter 4/4/2014 12:37:43 PM
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Futures add to gains after jobs report
NEW YORK - U.S. stock index futures rose on Friday, adding to earlier gains despite the March payroll report coming in modestly below expectations.
S&P 500 futures rose 8.1 points and were above fair value, a formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract. Dow Jones industrial average futures added 67 points and Nasdaq 100 futures rose 20.75 points.
(Reporting by Ryan Vlastelica; Editing by Bernadette Baum) -
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March saw a continuation of the solid hiring pace we saw last month, with unemployment unchanged since February.
Reuters has some key data and analysis on what the jobs report's numbers mean. Click here to read. -
U.S. maintains solid job growth pace as winter fades
U.S. employers maintained a solid pace of hiring for a second straight month in March, further evidence the economy was shifting into higher gear after being held back by a brutally cold winter.
Nonfarm payrolls increased by 192,000 new jobs last month after rising 197,000 in February, the Labor Department said on Friday. The unemployment rate was unchanged at 6.7 percent, as Americans flooded the labor market.
Economists polled by Reuters had expected employment to increase 200,000 last month and the unemployment rate to fall one-tenth of a percentage point.
Click here to read more. -
Temp workers up, manufacturing jobs down (only by 1,000). Not the ideal mix for sustained rise in employment, wages.by James Saft via twitter 4/4/2014 12:43:55 PM
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Previous growth revised up by 37,000. January: 144,000 new jobs, not 129,000. February: 197,000 new jobs, not 175,000 thkpr.gs/1mPiAYAby TPEconomy via twitter 4/4/2014 12:46:33 PM -
The unemployment rate for those with a bachelor's degree is 3.4%. For those without a high school diploma: 9.6%. bls.gov/news.release/e…by keithboykin via twitter 4/4/2014 12:47:15 PM -
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We are back at peak payrolls (last Jan 2008) but would need another 600k or so to be at 1/08 employment to population.by James Saft via twitter 4/4/2014 12:48:39 PM
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15 percent of all jobs added in March were temp jobs (+29k in prof/biz services). bls.gov/news.release/e… #gigeconomyby SuzyKhimm via twitter 4/4/2014 12:52:28 PM -
@jamessaft Jan 08 was 138,365,000. We’re currently at 137,928,000, so still 437,000 shortby felix salmon via twitter 4/4/2014 12:53:59 PM -
Monetary implications of this report: ZERO
- No evidence of inflation or capacity constraints for the hawks
- Not enough slowing for dovesby Justin Wolfers via twitter 4/4/2014 12:56:01 PM
Australia defends its handling of French submarine deal
SYDNEY (Reuters) -Australia defended its scrapping of a deal for French submarines on Sunday, saying the government had raised concerns to Paris for months, as a new deal with the United States and Britain continued to fuel a multinational diplomatic crisis.