Economy Adds Jobs Despite Steady Unemployment Rate
According to the U.S. Bureau of Labor Statistics, the economy created 192,000 new jobs in March, while the unemployment rate remained unchanged at 6.7%. Employment grew in professional and business services, in healthcare, and in mining and logging.
Employment in mining and logging rose in March (+7,000), with the bulk of the increase occurring in support activities for mining (+5,000). Over the prior 12 months, the mining and logging industry added an average of 3,000 jobs per month.
Construction employment continued to trend up in March (+19,000). Over the past year, construction employment has risen by 151,000.
Employment in other major industries, including manufacturing, wholesale trade, retail trade, transportation and warehousing, information, and financial activities, changed little over the month.