Economy Gains 916,000 Jobs in March; Unemployment Down to 6.0%

The U.S. economy gained 916,000 jobs in March, and the unemployment rate fell to 6.0%, according to figures released Friday morning by the U.S. Bureau of Labor Statistics.

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

Despite the good news on the unemployment rate falling, the share of the unemployed who are long term unemployed continued to climb. Unemployment benefit provisions in the ARP that expire on Labor Day will end while this problem still looms. @AFLCIO pic.twitter.com/mfcQIiPSq1

— William E. Spriggs (@WSpriggs) April 2, 2021

This pattern is the great challenge @POTUS and his team face with their Jobs bill. The slow recovery of Black employment IS NOT because of skills or industry composition. Putting in place an extremely beefed up @USDOL #OFCCP to have presence at each construction site for starters https://t.co/sqVKVb3lf1

— William E. Spriggs (@WSpriggs) April 2, 2021

Economists who watch the stock market are quick to point out how news stories translate to market reactions. Labor economists seem blind to the news and how it can translate to the market they watch. Its a good thing their noses are attached to their faces. https://t.co/L0oZG8ceYW

— William E. Spriggs (@WSpriggs) April 2, 2021

If governors and mayors would use their American Rescue Plan money to return state and local government workers to their jobs, that would address the sector with the second biggest job loss. Too many governors are spending time working on legislation to suppress voters. https://t.co/a1Kss859ln

— William E. Spriggs (@WSpriggs) April 2, 2021

A great thread to get some important points on today’s #JobsReport #jobsday https://t.co/ogQ2KtSvzD

— William E. Spriggs (@WSpriggs) April 2, 2021

Last month’s biggest job gains were in leisure and hospitality (+280,000), education (+190,000), construction (+110,000), professional and business services (+66,000), manufacturing (+53,000), transportation and warehousing (+48,000), other services industry (+42,000), social assistance (+25,000), wholesale trade (+24,000), retail trade (+23,000), mining rose (+21,000) and financial activities (+16,000). Employment in health care and information changed little in March. 

In March, the unemployment rate increased for Asians (6.0%). The rates for Hispanics (8.5%) and teenagers (13.0%) declined. The rates for Black Americans (9.6%), adult men (5.8%), adult women (5.7%) and White Americans (5.4%) showed little or no change over the month.

The number of long-term unemployed workers (those jobless for 27 weeks or more) barely changed in March and accounted for 43.4% of the total unemployed.