TeamDML offers insights, opinions, podcasts, videos and other forms of content intended to educate and better explain trending news that is made available to the public by third parties. In this particular case, we refer to an excerpt from CNBC:
Job creation in March easily topped expectations in a sign of continued acceleration for what has been a bustling and resilient labor market.
Nonfarm payrolls increased 303,000 for the month, well above the Dow Jones estimate for a rise of 200,000 and higher than the downwardly revised 270,000 gain in February, the Labor Department’s Bureau of Labor Statistics reported Friday.
The unemployment rate edged lower to 3.8%, as expected, even though the labor force participation rate moved higher to 62.7%, a gain of 0.2 percentage point from February. A broader measure that includes discouraged workers and those holding part-time positions for economic reasons held steady at 7.3%.
In the critical average hourly earnings gauge, wages increased by 0.3% for the month and by 4.1% compared to a year ago, aligning with Wall Street’s projections. The growth was driven by several sectors that have consistently driven gains in recent months. Health care led the way with an addition of 72,000 jobs, followed closely by government (71,000), leisure and hospitality (49,000), and construction (39,000). Additionally, retail trade contributed 18,000 jobs, while the “other services” category added 16,000.
According to the CNBC report, the February revision was only 5,000 jobs lower than the January revision, which increased the total by 27,000 to 256,000 jobs. However, this is still significantly below the initial estimate of 353,000.
That number will be revised down in two months from now just like the last 12 out of 13 months. NBC is a Democratic National Committee propaganda machine. pic.twitter.com/wRvS1i4usT
— Lady Liberty (@WeDidItOnce) April 5, 2024
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