It’s jobs day in America, and hopefully it’ll be a brighter one than last month’s.
The Bureau of Labor Statistics will publish the latest jobs report at 8:30 a.m. ET, expected to show a reversal of the negative job growth print in February.
Economists anticipate the job market added 65,000 jobs in March and that unemployment held steady at 4.4%. February’s shocking loss of 92,000 jobs, which could be revised, was partly due to a healthcare strike and bad weather. It’ll also likely be too soon to see the full effects of the Iran war on the job market.
Check back here throughout the morning to learn how the job market has been faring, more about expectations, and what the new estimates look like.
What we learned from the disappointing February jobs report
February’s report was downright dismal, including job losses in healthcare, private educational services, information, and leisure and hospitality. Both the wholesale and retail trade sectors added jobs.
It added up to a loss of 92,000 jobs. That decline largely wiped out the previous month’s gain, and there’s been no net job growth for half a year.
February’s report was downright dismal, including job losses in healthcare, private educational services, information, and leisure and hospitality. Both the wholesale and retail trade sectors added jobs.
It added up to a loss of 92,000 jobs. That decline largely wiped out the previous month’s gain, and there’s been no net job growth for half a year.
The report also showed more weakness in previous months than previously reported. December’s job creation was revised to a decline, and January’s growth was revised slightly down, which together meant 69,000 fewer jobs than previously estimated.
Unemployment ticked up from 4.3% to 4.4%, and labor force participation ticked down to the lowest rate since December 2021. Average hourly earnings of private employees increased 3.8% from a year ago, higher than the previous 3.7% rise.