According to the Bureau of Labor Statistics, the unemployment rate remained at 3.8 percent in March from the month before. While 196,000 jobs were added, this wasn’t enough to offset the number of people who became unemployed. The total number of unemployed persons stayed the same from the month before at 6.2 million. The number of long-term unemployed person remained unchanged as well.
The industries that added the most jobs were healthcare and professional/technical services. Other industries that had notable employment gains were computer services, architectural and engineering services, and in consulting services. The average workweek was little changed, and the average hourly earnings for employees on payroll ticked up by 4 cents.
While the massive gains in employment last year have slowed down, employment is at least remaining stable. If the strong job market continues, this could drive the economy for months or even years to come.