Analysis of the BLS Employment Situation Report

MRINetwork Analysis of the BLS Employment Situation Report March 2011 Employment The full report can be seen here: http://www.bls.gov/news.release/empsit.htm. Today, the Labor Department estimated a total of 216,000 jobs were added to the U.S. economy during the month of March, beating economists’ estimates of 185,000. The unemployment rate ticked down from 8.9 percent the previous month to 8.8 percent. Job growth continued to be broad-based, with positions being added across most major industry groups. Public sector employment, however, declined by 16,000, led by job losses at the city and county government levels. March’s employment report showed an increased number of labor market re-entrants over recent months, especially among those with higher levels of education. While there was an increase of 255,000 jobs among those holding a Bachelor’s or higher, there was also an increase in the size of that workforce (employed and unemployed, but looking) of 328,000 people. To date, however, the pace of people re-entering the job market has not been large enough to prevent the unemployment rate from continuing to fall. While the vast majority of jobs being added are now permanent—in contrast to 2010—employers continue to add contract positions as well. March saw staffing firms add 28,800 temporary positions during the month for a total of 2.3 million, or 2.1 percent of the total U.S. workforce. The management, professional, and related occupation unemployment rate fell year-over-year from 4.7 to 4.3 percent in March. While still at a historically high level, its rate of decline to a more typical level is accelerating. In December, it was flat year-over-year, but by January, it was down 0.3 percent and by February, it was down 0.4 percent. Total labor market growth seems to be stabilizing at a pace that will cause the unemployment rate to decline. In fact, the current level of private sector job growth, over 200,000 per month, is above average for most non-recession periods. Between 2004 and 2007, the U.S. private sector added, on average, just 169,000 jobs per month. Brought to you each month by: Management Recruiters of Vancouver, LLC 360-695-4688 or 877-695-4688 Stan Taylor, CSAM staylor@mrvancouver.com

216,000 Jobs aded in March!

Breaking News Alert


The New York Times

Fri, April 01, 2011 -- 8:37 AM ET

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U.S. Added 216,000 Jobs in March; Unemployment Rate at 8.8%



The United States economy added 216,000 jobs in March, as the nation continues a modest recovery.



The unemployment rate last month was 8.8 percent, down slightly from 8.9 percent in February. Overall, the number of jobs created last month was greater than the forecast of 193,000.



Friday's number follows the decline in the weekly unemployment claims, which have fallen steadily, from the mid-400,000s to the neighborhood of 385,000. In almost any other context, the latter would be a grim number indeed. But in this slowest and most sluggish of recoveries, it is a sign of somewhat fewer layoffs.



Still, threats to a more robust recovery remain, including a surge in energy and food prices, with the possibility of disruptions in oil production in the Middle East continuing to weigh on the financial markets. State and local governments have also been shedding jobs as they grapple with budget woes.



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