Thursday, April 7, 2016

Good news: The unemployment rate rose in March as workers returned to Job Market. 215K new payroll jobs created.

The Bureau of Labor Statistics reported 215,000 new payroll jobs were created in March 2016 and the unemployment rate rose slightly to 5.0%.  The unemployment rate rose slightly as the labor force expanded by 396,000 job seekers. The labor force participation also cross 63% for the first time since March 2014. The LFP dropped during the recession as many people stopped working or retired.

The BLS released it's March Unemployment report on April 1, 2016.  

Chart of National Unemployment rate and Labor Force Participation Rate

The economy added 215,000 workers in March 2016.  New positions were added in construction, retail trade, transportation, healthcare and leisure/hospitality. Construction and healthcare are important because they pay above average wages.  Manufacturing took another huge hit: down -29,000 job.  Looks like it's game over for US manufacturing.

Chart of Non-Farm Payroll Changes

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