Initial Reaction

Today’s employment report shows an increase of 215,000 jobs, very close to the Bloomberg consensus estimate of 210,000 jobs.

The Household Survey and Payroll Survey (Establishment Survey), were in sync this month. There was not another surge in part-time employment.

There were no major revisions.

Year-on-year hourly earnings are up a somewhat disappointing 2.3 percent. Average hours worked did not change, also a disappointment.

Let’s dive into the details in the BLS Employment Situation Summary, unofficially called the Jobs Report.

BLS Jobs Statistics at a Glance

  • Nonfarm Payroll: +215,000 – Establishment Survey
  • Employment: +246,000 – Household Survey
  • Unemployment: +151,000 – Household Survey
  • Involuntary Part-Time Work: +135,000 – Household Survey
  • Voluntary Part-Time Work: -187,000 – Household Survey
  • Baseline Unemployment Rate: +0.1 to 5.0% – Household Survey
  • U-6 unemployment: +0.1 to 9.8% – Household Survey
  • Civilian Non-institutional Population: +191,000
  • Civilian Labor Force: +396,000 – Household Survey
  • Not in Labor Force: -206,000 – Household Survey
  • Participation Rate: +0.1 at 63.0 – Household Survey

    • Employment Report

    Please consider the Bureau of Labor Statistics (BLS) Current Employment Report.

    Total nonfarm payroll employment rose by 215,000 in March, and the unemployment rate was little changed at 5.0 percent, the U.S. Bureau of Labor Statistics reported today. Employment increased in retail trade, construction, and health care. Job losses occurred in manufacturing and mining.

    Unemployment Rate – Seasonally Adjusted

    Nonfarm 2016-04A

     

    Nonfarm Employment Change from Previous Month

    Nonfarm 2016-04B

     

    Nonfarm Employment Change from Previous Month by Job Type

    Nonfarm 2016-04C

     

    Hours and Wages

    Average weekly hours of all private employees was flat at 34.4 hours. Average weekly hours of all private service-providing employees was flat at 33.3 hours. Average weekly hours of manufacturers declined 0.1 to 40.6 hours.

    Print Friendly, PDF & Email

    Related Posts