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U.S. Economy Adds Jobs in March

The U.S. Bureau of Labor Statistics reported nonfarm payroll employment increased by 162,000 in March, holding the national unemployment rate held steady at 9.7%.

The latest U.S. Bureau of Labor report showed continued strength in the temporary help services category, which added 40,000 jobs in March. Since September 2009, temporary help services employment has risen by 313,000.

Meanwhile, employment in health care continued to increase (27,000), with the largest gains seen in ambulatory health care services (16,000) and in nursing and residential care facilities (9,000).

In the category of mining, employment increased by 8,000. Likewise, manufacturing employment continued to trend up in March (17,000), with the industry adding 45,000 jobs in the first 3 months of 2010. Specifically, job gains were concentrated in fabricated metal products (9,000) and in machinery (6,000) for the month of March.

In the related category of construction, employment held steady (15,000) in March. The industry had lost an average of 72,000 jobs per month in the prior 12 months. This confirms signs of a turnaround.

In other sectors…financial activities shed 21,000 jobs, with the largest losses occurring in insurance carriers and related activities (down 9,000). Employment in the information sector decreased by 12,000.

The full report is available online.
 

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Aerospace  •  Automotive  •  Industry Trends & Happenings

 

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