TRIPLED EXPECTATIONS! March jobs report leaves experts stunned

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From CNBC: The U.S. labor market bounced back in March, with job creation much stronger than expected though the broader picture of a slow-growth labor market held intact.

Nonfarm payrolls rose a seasonally adjusted 178,000 during the month, a reversal from the 133,000 decline in February and better than the Dow Jones consensus estimate for 59,000, the Bureau of Labor Statistics reported Friday. February’s number was revised down by 41,000 while January was revised up by 34,000 to 160,000, putting the three-month average around 68,000.

With job creation higher, the unemployment rate edged lower to 4.3%.

As has been the case, health care was responsible for much of the growth, with the sector adding 76,000. A strike at health-care provider Kaiser Permanente in February hit the sector. The BLS said ambulatory health care services rose by 54,000, with 35,000 coming from the strike workers returning.


In other areas, transportation and warehousing saw an increase of 21,000 new jobs, and the construction industry added 26,000 jobs.

March saw a loss of 15,000 jobs in the financial activities sector.

While jobs in the private sector are rising, the federal government is shedding jobs, and was down 18,000 in March.

CNN was even left stunned:

READ MORE from CNBC.

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