March Job Growth Report: U.S. Adds 236,000 Jobs
March ended the first quarter of 2023 and saw 236,000 new jobs added, continuing the upward trend in employment so far this year.
The U.S. unemployment rate remained fairly stagnant only falling from 3.6% in February to 3.5% in March.
Is the U.S. job market growing right now?
With the unemployment rate changing little over the past 12-plus months, and the number of unemployed individuals remaining around 5.8 million, these measures have shown little net movement
since early 2022.
U.S. unemployment rates by group:
- Adult women: 3.1%
- Adult men: 3.4%
- Teenagers: 9.8%
- Whites: 3.2%
- Blacks: 5.0%
- Asians: 2.8%
- Hispanics: 4.6%
Additional employment statistics for March 2023:
- The number of discouraged workers, who believed that no jobs were available for them, dropped slightly from 363,000 in February to 351,000 in March.
- Average hourly earnings increased by 9 cents in March to $33.18.
- The number of workers employed part-time for economic reasons remained unchanged at 4.1 million.
U.S. industries with notable job growth in March
Leisure and hospitality
While the leisure and hospitality sector saw the most growth in March, the 72,000 jobs added in March was still less than the 105,000 jobs added the month prior.
The most notable gains in this sector came from food services and drinking places, which accounted for 50,000 of the jobs added in March.
Continuing the upward trend from February, Government jobs showed an increase in March, adding 47,000 jobs.
Despite these recent gains, employment in government is still below its February 2020 level by 314,000 jobs or 1.4%.
Professional and business services
The professional and business services sector added 39,000 jobs in March.
Professional, scientific, and technical services accounted for the majority of jobs added in March with 26,000.
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