9:41 a.m.
Friday, 21 July 2017

US unemployment rate dipped to 8.2 percent from 8.3 percent in March

Rubén Vela

Correspondent

April 9th

Los Angeles, California.-Nonfarm payroll employment rose by 120,000 in March, and the unemployment rate, at 8.2 percent, changed little, the Labor Department said on Friday

Over the prior 3 months, nonfarm job growth had averaged 246,000 per month. Since a recent low point in February 2010, payroll employment has risen by 3.6 million. Over the month, employment rose in manufacturing, food services and drinking places, and health care, while retail trade employment declined, said the report.

Manufacturing employment grew by 37,000 in March and has increased by 470,000 since a recent low point in January 2010. Essentially all of the net gain over this period occurred in durable goods. In March, employment increased in motor vehicles and parts, machinery, fabricated metals, and paper manufacturing.

 Food services and drinking places added 37,000 jobs over the

month. Since a recent low point in February 2010, employment in this industry has grown by 563,000.

 Health care employment continued to expand in March, rising

by 26,000. Offices of physicians and hospitals each added 8,000 jobs.

 Employment in professional and business services continued

to trend up over the month (+31,000). Within professional and business services, services to buildings and dwellings added 23,000 jobs. Employment in temporary help services was about unchanged in March after increasing by 55,000 in February. Within financial activities in March, employment increased in credit intermediation (+11,000), which includes commercial banking.

 Retail trade employment declined by 34,000 in March.  A job

loss in general merchandise stores more than offset gains in building material and garden supply stores and in health and personal care stores.

 Employment in other major industries changed little in

March. Government employment has been essentially unchanged thus far in 2012. Government had lost 265,000 jobs in 2011.

 Average hourly earnings of all employees on private nonfarm

payrolls increased by 5 cents in March to $23.39. Over the past 12 months, average hourly earnings have risen by 2.1 percent. From February 2011 to February 2012, the Consumer Price Index for All Urban Consumers (CPI-U) increased by 2.9 percent.

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