Atlanta, GA (PRWEB) April 15, 2016
The Economic Situation report released by the Bureau of Labor Statistics on Friday, April 1, 2016, revealed a growth of 215,000 jobs for the month of March, a decrease of 12 percent or 30,000 over February’s gain of 245,000 jobs.
Unemployment for the month increased slightly to 5.0 percent, or 8 million unemployed persons. Over the year, the unemployment rate and the number of unemployed persons has decreased by 0.5 percentage point and 591,000, respectively. Last month, employment gains largely occurred in retail trade, construction and healthcare while job losses occurred in manufacturing and mining.
Retail trade gained 48,000 jobs in March, with general merchandise stores adding 12,000 jobs, health and personal care stores and building material and garden stores both adding 10,000 jobs, and automobile dealers adding 5,000 jobs. Over the last year, retail trade has added 378,000 jobs.
Last month, construction added 37,000 jobs with large gains occurring among residential specialty trade contractors (12,000 jobs), and heavy and civil engineering construction (11,000 jobs). Over the past year, construction has added 301,000 jobs.
Health care also added 37,000 jobs in March, inline with the monthly average over the last 12 months. Within the sector, gains occurred in ambulatory health care services (27,000 jobs) and hospitals (10,000 jobs). Over the last year, health care increased by 503,000 jobs.
Job losses occurred in manufacturing and mining which declined by 29,000 and 12,000 jobs, respectively. Most losses occurred in durable good industries (-24,000 jobs).
Total nonfarm payroll employment for January and February was revised from 172,000 to 168,000 jobs, and 242,000 to 245,000 jobs, respectively. With these revisions, employment gains in January and February were 1,000 less than previously reported.
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