The U.S. Economy Added 192,000 Jobs in March

And the unemployment rate is unchanged at 6.7 percent.

About 1,500 people seeking employment wait in line to enter a job fair outside the Arena Stage at the Mead Center for American Theater March 28, 2014 in Washington, DC.
National Journal
Matt Berman
Add to Briefcase
See more stories about...
Matt Berman
April 4, 2014, 4:37 a.m.

Spring is fi­nally here. The U.S. eco­nomy ad­ded 192,000 jobs in March, leav­ing the un­em­ploy­ment rate un­changed at 6.7 per­cent, ac­cord­ing to new data re­leased Fri­day morn­ing from the Bur­eau of Labor Stat­ist­ics. This comes on the heels of last month’s ex­pect­a­tions-beat­ing re­port, which showed a growth of 175,000 jobs in Feb­ru­ary.

The new re­port re­vises Feb­ru­ary’s growth to 197,000 and Janu­ary’s to 144,000 jobs ad­ded, up from an ori­gin­al 129,000.

Fri­day’s re­port came in slightly be­low Wall Street’s op­tim­ist­ic ex­pect­a­tions of about 200,000 ad­ded jobs in March. The U.S. eco­nomy has ad­ded 183,000 jobs per month on av­er­age over the last year, but the bru­tal winter across the coun­try cooled things down a bit. Ac­count­ing for the latest re­vi­sions, from Decem­ber through Feb­ru­ary, the av­er­age job growth per month was just 139,000, be­low the 225,000 av­er­age growth dur­ing the pre­ced­ing three months. That drop-off can be par­tially at­trib­uted to in­ter­rup­tion in con­struc­tion, and heavy snow tem­por­ar­ily shut­ting down factor­ies.

Signs of the pos­it­ive weath­er change can be seen in the growth of the av­er­age work­week in the latest re­port. In March, the av­er­age work­week in­creased by  0.2 hours to 34.5 hours, in­clud­ing a 0.3 hour in­crease for the man­u­fac­tur­ing work­week. In con­struc­tion, the av­er­age work­week in­creased by one hour from Feb­ru­ary to March, re­turn­ing to the 39.1-hour week from March 2013.

So if base­ball sea­son start­ing up this past week didn’t prove it to you, this new jobs re­port hope­fully should: Winter is over. With the com­bin­a­tion of Feb­ru­ary’s re­vised num­ber and March’s near-200,000 growth, things are look­ing just a little ro­si­er. The eco­nom­ic re­cov­ery has a way to go, but we may fi­nally be turn­ing a corner after a slug­gish few months.

What We're Following See More »
HAD ATTRACTED A CROWD TODAY
Alt-Right Leader Spencer Removed from CPAC
13 hours ago
WHY WE CARE
SAYS LEFT WILL GO INTO “MELTDOWN”
Cruz Predicts Another SCOTUS Vacancy “This Summer”
17 hours ago
THE LATEST
THE QUESTION
How Many Signatures Has the Petition for Trump’s Tax Returns Received?
19 hours ago
THE ANSWER

More than 1 million, setting a record. More than 100,000 signatures triggers an official White House response.

Source:
TIED TO RUSSIA INVESTIGATION
Sen. Collins Open to Subpoena of Trump’s Tax Returns
19 hours ago
THE LATEST

Sen. Susan Collins, who sits on the Intelligence Committee, "said on Wednesday she's open to using a subpoena to investigate President Donald Trump's tax returns for potential connections to Russia." She said the committee is also open to subpoenaing Trump himself. "This is a counter-intelligence operation in many ways," she said of Russia's interference. "That's what our committee specializes in. We are used to probing in depth in this area."

Source:
NPR ALSO LAUNCHES ETHICS WATCH
Obama Staffers Launch Group to Monitor Trump Ethics
19 hours ago
WHY WE CARE

"Top lawyers who helped the Obama White House craft and hold to rules of conduct believe President Donald Trump and his staff will break ethics norms meant to guard against politicization of the government — and they’ve formed a new group to prepare, and fight. United to Protect Democracy, which draws its name from a line in President Barack Obama’s farewell address that urged his supporters to pick up where he was leaving off, has already raised a $1.5 million operating budget, hired five staffers and has plans to double that in the coming months." Meanwhile, NPR has launched a "Trump Ethics Monitor" to track the resolution of ten ethics-related promises that the president has made.

Source:
×
×

Welcome to National Journal!

You are currently accessing National Journal from IP access. Please login to access this feature. If you have any questions, please contact your Dedicated Advisor.

Login