March Labor Report: The Job Market Continues Its Hot Streak

March Labor Report Recap at Addison Group

The U.S. economy added a whopping 303,000 new jobs in March, according to the Bureau of Labor Statistics. The latest jobs report continues a hot streak, blowing past economists’ forecast of 205,000 jobs in March.

Nonfarm payroll employment, over-the-month change, seasonally adjusted, March 2022 - March 2024

The unemployment rate fell to 3.8% compared to last month’s 3.9%. Healthcare and government roles saw the biggest gains. Healthcare added 72,000 new jobs in March, exceeding the average monthly gain of 60,000 over the past 12 months.

Government also saw significant gains, with 71,000 new roles added last month. The gains well exceed the average monthly gain of 54,000 new roles.

There were also job gains in leisure and hospitality, adding 49,000 new roles and soundly beating the monthly average of 37,000 new jobs.

Professional and business services added 7,000 new jobs last month.


Addison Group Workforce Planning Guide 2024


With the labor market consistently surpassing economist’s expectations, we should continue to see a thriving job market in 2024.

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Download the March Labor Report

Source: March 2024 Monthly Jobs Report, Bureau of Labor Statistics

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