Economy Gains 431,000 Jobs in March; Unemployment Falls to 3.6%

The U.S. economy gained 431,000 jobs in March, and the unemployment rate dropped to 3.6%, according to figures released Friday morning by the U.S. Bureau of Labor Statistics. Continuing strong job creation numbers are a clear sign that the worker-friendly policies implemented by President Biden are having a positive impact on working people.

In response to the March job numbers, AFL-CIO Chief Economist William Spriggs tweeted:

After a few months of divergence, the household survey, adjusted to the concept of holding a “regular” payroll job (the blue line), and the payroll survey (the orange line) have converged on the same number of payroll jobs. 1/3 pic.twitter.com/eJzMzLCRfA

— William E. Spriggs (@WSpriggs) April 1, 2022

The adjustments to the payroll survey for January was up 23,000 and for February was up 72,000 so smaller adjustments than in some earlier months. February, now at +750,000 the strongest one month gain on record (which began in 1939). @AFLCIO

— William E. Spriggs (@WSpriggs) April 1, 2022

The Black unemployment rate fell from 6.6% to 6.2% with mixed messages. The labor force participation rate for adult Black men fell, but edged up for women. The unemployment rate for adult Black men fell to 5.6% but with a dip in the share employed. 1/3

— William E. Spriggs (@WSpriggs) April 1, 2022

The path of recovery in the Black labor force is key to understanding how frictions in the labor market are easing. Despite firms claiming they were actively searching, persistent unemployment problems for millions proved otherwise. The @federalreserve risks slowing this path.

— William E. Spriggs (@WSpriggs) April 1, 2022

Job gains were reported in almost all industries, with the lowest wage [moving down on the chart] (leisure & hospitality) showing the greatest gains [moving right on the chart] Big gains in janitorial services boosted professional and business services. @AFLCIO pic.twitter.com/W9LJ0iFGIx

— William E. Spriggs (@WSpriggs) April 1, 2022

Labor force flow data continue to show high shares of those landing jobs are coming from those not in the labor force in the previous month (71.4%), and the success of those entering is high (74.2%). But the trend of declines in unemployed workers leaving the labor force stopped. pic.twitter.com/RxOr0RPxrE

— William E. Spriggs (@WSpriggs) April 1, 2022

Employment levels in construction have virtually returned to pre-Pandemic levels. This will strengthen when infrastructure projects come to fruition. This will be a strong link for continued employment growth. @AFLCIO pic.twitter.com/xxWBvze5Hj

— William E. Spriggs (@WSpriggs) April 1, 2022

Local government employment is trending in the right direction, but its recovery is painfully slow given the federal support sent to states. This is where people live, services like police, firefighters, teachers, the frontline workers who keep things moving. @AFSCME @AFTunion pic.twitter.com/sfH16ZR2ov

— William E. Spriggs (@WSpriggs) April 1, 2022

The number of long-term unemployed is slowly coming back to levels that are “normal,” and those facing first time unemployment spells is also drifting toward “normal” levels. All this is good news moving in the right direction, we don’t want slowed. @AFLCIO pic.twitter.com/Jx87j9iahJ

— William E. Spriggs (@WSpriggs) April 1, 2022

Women gained 271,000 of this month’s 431,000 gain in payroll (63%). climbing up to 49.8% of those on payroll. This is a healthy sign. Women suffered the greater job losses during the Pandemic. Their recovery shows we are on the right path to recovery. @AFLCIO pic.twitter.com/5UnAtIvqrv

— William E. Spriggs (@WSpriggs) April 1, 2022

March proved harder on those with less than a high school diploma: their unemployment rate went up, but fell for all more educated groups. Still overall this recovery has improved the labor market for everyone. (The dropout unemployment rate is lower than for Blacks 6.2%) pic.twitter.com/1QYKHrijiG

— William E. Spriggs (@WSpriggs) April 1, 2022

Last month’s biggest job gains were in leisure and hospitality (+112,000), professional and business services (+102,000), retail trade (+49,000), manufacturing (+38,000), social assistance (+25,000), construction (+19,000), financial activities (+16,000) and health care (+8,000). Employment showed little change over the month in transportation and warehousing, mining, wholesale trade, information, other services and government.

Among the major worker groups, the unemployment rate for adult women (3.3%) declined in March. The jobless rates for teenagers (10%), Black Americans (6.2%), Hispanics (4.2%), adult men (3.4%), White Americans (3.2%) and Asian Americans (2.8%) showed little change over the month.

The number of long-term unemployed workers (those jobless for 27 weeks or more) decreased in March and accounted for 23.9% of the total unemployed.