LI: The March jobs report showed a rebound with hiring as the economy added 196,000 jobs and the unemployment rate stayed low at 3.8%.
For 102 months, U.S. employers have added jobs, which makes it the longest streak.
From The Wall Street Journal:
Through the first three months of the year, employers added an average of 180,000 jobs to payrolls each month. That was a slowdown from the robust 223,000 jobs added each month, on average, last year, and roughly in line with the 179,000 averaged in 2017.
Better hiring last month was led by strong gains in the health care and leisure and hospitality sectors. Payrolls increased in construction and mining, after falling the prior month. March employment declined in manufacturing, retail and temporary help services. All levels of government added a net 14,000 jobs to payrolls.
However, the share of Americans taking part in the labor market declined last month.
The fraction of Americans with jobs or looking for work slipped to 63% in March from 63.2% the prior month. The rate had been climbing since last fall, but is still well below prerecession levels.
The healthcare sector added 49,000 jobs while professional services added 34,000. Construction added 16,000, which is a decent growth from February.
However, manufacturing jobs only added 6,000. WSJ noted this is an important stat for the trade talks with China “as a series of downbeat manufacturing data points around the world keep some analysts cautious on the world economy.” Chief US economist Paul Ashworth at Capital Economics told clients that “[G]iven the global manufacturing slump, we expect further U.S. factory job losses over the next few months.” read more