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 »
John Glenn Dead at 95
10 hours ago
House Approves Spending Bill
12 hours ago

The House has completed it's business for 2016 by passing a spending bill which will keep the government funded through April 28. The final vote tally was 326-96. The bill's standing in the Senate is a bit tenuous at the moment, as a trio of Democratic Senators have pledged to block the bill unless coal miners get a permanent extension on retirement and health benefits. The government runs out of money on Friday night.

Senate Approves Defense Bill
13 hours ago

The Senate passed the National Defense Authorization Act today, sending the $618 billion measure to President Obama. The president vetoed the defense authorization bill a year ago, but both houses could override his disapproval this time around.

Trump Chooses Hardee’s/Carl’s Jr CEO as Labor Sec
15 hours ago
Trump Cabinet Full of TPP Supporters
15 hours ago

"President-elect Donald Trump railed against the Trans-Pacific Partnership on his way to winning the White House and has vowed immediately to withdraw the U.S. from the 12-nation accord. Several of his cabinet picks and other early nominees to top posts, however, have endorsed or spoken favorably about the trade pact, including Iowa Gov. Terry Branstad, announced Wednesday as Mr. Trump’s pick for ambassador to China, and retired Marine Gen. James Mattis, Mr. Trump’s pick to head the Department of Defense."


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.