📈 March's job report brings good news for the U.S. economy! Nonfarm payrolls surged by 303,000.
Number was driven by gains in healthcare, government, and construction sectors.
Despite this, the unemployment rate held steady at 3.8%, maintaining its narrow range since August 2023. Healthcare led job growth with 72,000 new positions, while government and construction also saw significant increases.
💵 Average hourly earnings rose by $0.12 to $34.69, and the workweek expanded slightly to 34.4 hours. However, unemployment rates among different demographics varied, with Blacks rising to 6.4%, while Asians and Hispanics saw decreases to 2.5% and 4.5%, respectively.
Long-term unemployed individuals remained steady at 1.2 million.
