Quick Thoughts On The March Jobs Report Cepr Like most analysts, i was surprised by the strength of the march report. sectors that i expected to see putting off hiring due to the threat or reality of cuts, like health care and state and local governments, continued to hire at an impressive rate. The manufacturing sector has been slowly shedding jobs for the last two years, losing an average of 13,000 jobs a month. that decline is likely to continue in march and will probably not be affected by the war.
Dean Baker Cepr Job growth has been slow, but the growth in hours has been even slower. employers have less need for labor. the decline in hours worked matters also in workers’ paychecks. the average weekly wage actually fell slightly in march. this was due to both weak hourly wage growth and a decline in hours. The strong jobs growth in the march report is a surprisingly good economic signal. the growth was still highly concentrated in health care and social assistance, along with restaurants, but construction, manufacturing, and retail also showed job gains. The jobs report marks a sharp rebound from february, which was revised to show a loss of 133,000 jobs, a number that shocked economists for how much it missed expectations. In this episode, lauren brice from the u.s. rates sales team and mike feroli, j.p. morgan's chief u.s. economist, unpack the key takeaways from the march u.s. jobs report and explore the economic path ahead.
More Quick Thoughts On The March Jobs Report Good News On Inflation The jobs report marks a sharp rebound from february, which was revised to show a loss of 133,000 jobs, a number that shocked economists for how much it missed expectations. In this episode, lauren brice from the u.s. rates sales team and mike feroli, j.p. morgan's chief u.s. economist, unpack the key takeaways from the march u.s. jobs report and explore the economic path ahead. Job growth has been slow, but the growth in hours has been even slower. employers have less need for labor. the decline in hours worked matters also in workers’ paychecks. With markets roiled by president donald trump's tariff policy, the labor department on friday reported national nonfarm payrolls grew by 228,000, with the unemployment rate edging up to 4.2%. Overall, this is a quite strong jobs report; the u.s. labor market and economy have been resilient to date, as employment and consumer spending have remained strong. but there is good reason to. Initiatives focused on government efficiency are ongoing, but their impact on the march jobs report was less pronounced than anticipated. while some departments may be seeing reductions, the aggregate data shows a slight decrease rather than a large scale shedding of jobs.
March 2025 Preview What To Expect In The Jobs Report Cepr Job growth has been slow, but the growth in hours has been even slower. employers have less need for labor. the decline in hours worked matters also in workers’ paychecks. With markets roiled by president donald trump's tariff policy, the labor department on friday reported national nonfarm payrolls grew by 228,000, with the unemployment rate edging up to 4.2%. Overall, this is a quite strong jobs report; the u.s. labor market and economy have been resilient to date, as employment and consumer spending have remained strong. but there is good reason to. Initiatives focused on government efficiency are ongoing, but their impact on the march jobs report was less pronounced than anticipated. while some departments may be seeing reductions, the aggregate data shows a slight decrease rather than a large scale shedding of jobs.
Dean Baker Cepr Overall, this is a quite strong jobs report; the u.s. labor market and economy have been resilient to date, as employment and consumer spending have remained strong. but there is good reason to. Initiatives focused on government efficiency are ongoing, but their impact on the march jobs report was less pronounced than anticipated. while some departments may be seeing reductions, the aggregate data shows a slight decrease rather than a large scale shedding of jobs.
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