As we dial into the March BLS jobs report, we’re looking at key takeaways and what they mean for businesses and job seekers.
303,000 Jobs Added
In March, the BLS jobs report revealed a robust increase in total nonfarm payroll employment, far exceeding predictions. Main job gains were in health care, government and construction.
3.8% Unemployment Rate
The unemployment rate declined to 3.8% from 3.9%, consistently remaining below 4% for 25 consecutive months. This marks the longest continuous period since the late 1960s.
62.7% Labor Force Participation Rate
The labor force participation rate increased slightly from 62.5% to 62.7% with more people rejoining the labor market. A good sign for hiring companies with more talent entering the jobs market.
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