March Jobs Report – 196,000 Jobs Gained, Unemployment Rate Remains 3.8%, Wage Growth 3.2%….

The Bureau of Labor Statistics (BLS) released the March employment report earlier today showing strong job growth of 196,000 with the unemployment rate remaining 3.8%.  Also, in March, average hourly earnings for all employees on private nonfarm payrolls rose by 4 cents to $27.70, following a 10-cent gain in February. Over the past 12 months, average hourly earnings have increased by 3.2 percent.

The employment result was stronger than most analysts predicted; and comes amid stronger home sales and higher manufacturing numbers.  The economy is strong, balanced and shows no signs of weakness.  January and February were also revised upward by 14k.

The strong March (+196k) makes the weak February report (+33k) look like an outlier.  Using January (+312k), the three-month average is now 180,000 jobs gained.

(Via CNBC) […] Economists had been expecting 175,000 jobs for March. The unemployment rate remained at 3.8% as expected.

The March employment report has become the latest in a series of better data this week, including stronger home sales and a pickup in ISM manufacturing activity. Recession fears have been fading as economists have been nudging up their expectations for GDP growth, with some seeing over 2% in the first quarter from earlier forecasts closer to 1% or lower.

“The demise of the U.S. economy has been greatly exaggerated,” said Ward McCarthy, chief financial economist at Jefferies. McCarthy said this year’s first quarter is following the pattern of typically weaker growth at the start of the year followed by a rebound. (read more)

Wage growth is 3.2% nationally.  There are multiple regions -and multiple job sectors- where wage gains are much higher. With inflation hovering around 1.0 to 1.5 percent, real disposable income is higher for all workers.  This is helping to fuel the retail sales sector gains; people are buying more stuff.

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31 Responses to March Jobs Report – 196,000 Jobs Gained, Unemployment Rate Remains 3.8%, Wage Growth 3.2%….

  1. I have said it before; it’s been decades since the paradigm favored workers over employers. We now have an economy in which workers have an advantage over employers. Workers can quickly change jobs and see increased wages and benefits.

    Five years ago the labor market was defined by too many workers and not enough jobs. Today it is just the reverse.

    Keep legal and illegal immigration under control for the next five to ten years and we will regain our country and our sanity.

    God bless you P Trump.

    Liked by 12 people

  2. Sanj says:

    That’s one heck of a magic wand!

    Liked by 8 people

  3. chojun says:

    I’m not at all surprised by this report, despite a report yesterday that I heard indicating that layoffs are ticking up in the USA.

    The fact is that the world (globalist) economy (Europe, China) is very likely at or near recession levels. This will affect industries and sectors that are involved in exports. I’d be curious to see if this coincides with the layoff numbers.

    And since the US economy growth is essentially occurring in a vacuum, that means manufacturing demand is only going to increase here as the globalist economies are in retreat and are unable to meet American demand. We should continue to see sustained growth for the foreseeable future. From my (admittedly layperson’s) vantage point, there are really only 2 things that can stop this expansion:

    1) Electing someone else in 2020 (God forbid); or
    2) Globalist economies adopting pro-growth strategies (tax/regulatory reform)

    I see both unlikely. Europe I believe will try to weather the Trump storm and will continue to experience recessionary conditions because of this. I firmly believe China is taking the same strategy with the trade negotiations and is attempting to run out the clock on the Trump Administration.

    And speaking of the space between a rock and a hard place, it’s quite fun seeing the Fed sweating bullets because any action they take ultimately harms the economy. It’s fun watching the Fed bring about the intellectual demise of Keynesian economics once and for all.

    https://www.businessinsider.com/the-logical-outcome-of-keynesian-economics-is-a-spiral-of-decline-2012-2

    Liked by 4 people

  4. Nessie509 says:

    Still scratching my head. Whenever Democrats are asked about their priorities, one of them is wage increase for workers.
    They have the impression that since the MSM never brings it up, they can get away with saying wages haven’t gone up for a long time.
    Democrats’ solution is $15.00 an hour, of course.
    Funny thing is…Target Stores increased their starting wage to $13.00.
    We know competition for labor increases wages for laborers.
    Democrats don’t seem to want to know that.

    Liked by 1 person

    • dd_sc says:

      They know it; they will never acknowledge it.

      Like

    • DD More says:

      Nessie, another head scratcher.
      The unemployment rate remained at 3.8% as expected.

      Going to need another reason for “Homeless in Seattle” and SF. Dimmies don’t seem to want the reasons for That to come out either.

      Like

  5. These numbers have got to be driving Tom Donohue nuts. The last thing the US CoC wants is increasing wages and labor rates for US workers. Especially when combined with revised trade deals that level the playing field for the American consumer and worker.

    But where is Donohue gonna go? He wouldn’t come out and support one of the Democrat Socialist candidates would he?

    Liked by 1 person

    • permiejack says:

      IMO Donahue will continue doing what he COC has always done. Support the swamp and globalist Rinos with campaign donations.

      Liked by 4 people

    • dd_sc says:

      Probably not one of the Dem-Socialists, but should a DNC or RNC chosen one jump into the race as the middle of the road candidate, the CoC and NeverTrump crowd will get behind that candidate.

      Like

  6. TexasDude says:

    But, but, but, the USMCA is bad and we’ve been duped! (rolling my eyes and SMH)

    Liked by 1 person

  7. GB Bari says:

    “The demise of the U.S. economy has been greatly exaggerated,” said Ward McCarthy, chief financial economist at Jefferies.

    (Please excuse the indicated vulgar language, but….)
    No sh-t, Sherlock! Tell us something we don’t already know.

    Despite this article being from CNBC, I can’t wait* to see the CNBC tv show hosts interview someone from the Administration and try to find & amplify negatives somewhere inside this data.

    It’s what the Swamp media all do.

    *actually the only way I’ll see that is if the video clip is posted or linked from herein.

    Like

  8. Caius Lowell says:

    I really want an MIT economist to explain to me why this isn’t good news — I mean, I want it bad…

    Like

  9. Sara Legvold says:

    Did this report say whether the jobs went to American citizens or illegals & imported Visa workers????

    Like

  10. L4grasshopper says:

    Focusing on “jobs added” actually makes the economy look not as good as it really is.

    Rather: focus on “job openings” — that is, the number of people employers are trying to hire — and it looks even better. Job openings are at record highs. The problem is that employers are having trouble finding qualified people who want to work to fill all the openings.

    https://www.cnbc.com/2019/02/12/us-job-openings-jump-to-record-high-of-7point3-million.html

    Like

    • TreeClimber says:

      Trucking is booming. It’s quite difficult to get a CDL, at least in SC – my brother-in-law was looking into it. Dismissed it as too costly and difficult. It’s not even that people don’t want to do the jobs – it’s that they can’t get the qualifications required! At least half the job opening in my area are for nursing or other medical practices. You have to go to (costly) school for years for that!

      Like

      • Sara Legvold says:

        You also now have Mexican drivers competing for those same trucking jobs once Bush installed that pilot program that landed never to take off again. How do you think Mexican drivers will compete against American drivers???

        Like

  11. @ChicagoBri says:

    Not to be a raincloud on this news, which I love, but isn’t the rule of thumb that the economy needs to add 200,000 jobs a month just to keep up with population growth.

    Like

  12. John says:

    At least some of the wage growth for lower paid workers over the last year can be attributed to the left wing’s successful effort to raise the minimum wage in many states and localities.

    Like

  13. MightyMustardSeed says:

    M making
    A America
    G great
    A again

    This is not a campaign slogan to POTUS Trump.

    This is his Presidential Policy.
    The President of The United States – Donald J Trump

    Like

  14. thedoc00 says:

    The parts of the Government the President is allowed to control; the economy, some domestic concerns and some of the critical foreign relations have exceeded all expectations. Just imagine if the Congress focused on government instead of suppressing or removing the President, the progress that would have been made 2016 to 2024.

    Liked by 1 person

    • piper567 says:

      We the voters have to shift the make-up of this treasonous Congress come 2020.
      May be able to make some inroads if folks work for MAGA Candidates.
      I think the President demonstrated that $$$ is not always the determining factor.
      Energy expenditure and consistent messaging also count. Bigly.

      Liked by 1 person

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