March Labor Report Recap
According to the latest labor report from the Bureau of Labor Statistics, the job market is still seeing new jobs added, with 236,000 nonfarm payroll jobs added in March 2023. This is 75,000 fewer jobs compared to the previous month. The unemployment rate slightly decreased to 3.5 percent from 3.6 percent in February.
The industries that saw the most job growth in March were leisure and hospitality, government, professional and business services, and healthcare.
The professional and business services industry added 39,000 jobs in March, and an average of 34,000 jobs added over the past six months.
The labor market is still in good shape this month, adding more nonfarm payroll jobs and a low unemployment rate.
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Source: March 2023 Monthly Jobs Report, Bureau of Labor Statistics
