Exclusive from Jin10: Full text of the U.S. March Non-Farm Payroll Report

Overview of Employment Situation The report released today by the U.S. Bureau of Labor Statistics shows that the total number of non-farm jobs in the U.S. increased by 228,000 in March, with the unemployment rate remaining virtually unchanged at 4.2%. Employment growth was observed in the healthcare, social assistance, and transportation and warehousing sectors. The retail sector also saw an increase in employment, partly due to striking workers returning to their jobs. Employment in federal government departments decreased. This news release is based on data from two monthly surveys: one is a household survey, which primarily measures labor force status and demographic characteristics such as the unemployment rate; the other is a survey of business establishments, which mainly measures employment, hours, and wages in the non-farm sector. For more information on the concepts and statistical methods used in these two surveys, please refer to the technical notes. Household Survey Data In March, the unemployment rate was 4.2%, with the number of unemployed individuals at 7.1 million, both showing little change. Since May 2024, the unemployment rate has fluctuated within a narrow range of 4.0% to 4.2%. Among major labor force groups, the unemployment rate for adult men was 3.8%, for adult women it was 3.7%, for teenagers it was 13.7%, for whites it was 3.7%, for blacks it was 6.2%, for Asians it was 3.5%, and for Hispanics it was 5.1%, with all groups remaining relatively stable compared to the previous month. In March, the number of long-term unemployed individuals (those unemployed for 27 weeks or more) was 1.5 million, showing little change, accounting for 21.3% of all unemployed individuals. The labor force participation rate was 62.5%, showing little change compared to last month and the same period last year. The employment-population ratio remained at 59.9% in March. The number of individuals working part-time for economic reasons was 4.8 million, remaining stable compared to last month. These individuals wanted full-time work but could only find part-time jobs due to reduced hours or an inability to find full-time positions. In March, the number of individuals not in the labor force but wanting to work remained at approximately 5.9 million. These individuals are not counted as unemployed because they did not actively seek work in the four weeks prior to the survey or were unable to start work immediately during the survey period. Among those not in the labor force but wanting to work, the number of marginally attached workers (those who looked for work in the past 12 months but did not search in the four weeks prior to the survey) was 1.7 million, showing little change in March. Among them, the number of discouraged workers, who feel that "there are no suitable job opportunities," was 509,000, showing little change. Establishment Survey Data In March, non-farm employment increased by 228,000, a rise higher than the average monthly increase of 158,000 over the past 12 months. During the month, employment increased in the healthcare, social assistance, and transportation and warehousing sectors. Retail employment also saw an increase, partly due to striking workers returning to their jobs. Employment in federal government departments decreased • Healthcare Industry: In March, 54,000 jobs were added, close to the average monthly increase of 52,000 over the past 12 months. Among them, outpatient medical services added 20,000 jobs, hospitals added 17,000 jobs, and nursing and residential care facilities added 17,000 jobs. • Social Assistance Industry: In March, 24,000 jobs were added, higher than the average monthly increase of 19,000 over the past 12 months. During the month, personal and family services added 22,000 jobs. • Retail Industry: In March, 24,000 jobs were added, mainly from the food and beverage retail sub-industry (+21,000), which is related to striking workers returning to their positions. Department stores saw a decrease of 5,000 jobs. Overall, there has been little change in retail employment over the past year. • Transportation and Warehousing: In March, employment increased by 23,000, about twice the average increase of 12,000 over the past 12 months. Among them, courier and package delivery added 16,000 jobs, truck transportation added 10,000 jobs, partially offset by a decrease of 9,000 jobs in the warehousing and storage industry. • Government Sector: In March, federal government employment decreased by 4,000; in February, it decreased by 11,000. (In the business survey, employees on paid leave or receiving severance pay are still counted as employed.) In major industries such as mining, quarrying, and oil and gas extraction, construction, manufacturing, wholesale trade, information, financial activities, professional and business services, leisure and hospitality services, and other services, there was little change in employment in March. In March, the average hourly wage for all employees in the private non-farm sector increased by 9 cents, an increase of 0.3%, reaching $36.00. Over the past 12 months, the average hourly wage has increased by 3.8%. The average hourly wage for production and non-management employees in the private sector increased by 5 cents (0.2%) in March, reaching $30.96. In March, the average weekly hours for all employees in the private non-farm sector remained at 34.2 hours. The average weekly hours in manufacturing changed slightly, remaining at 40.2 hours, with overtime hours remaining at 2.9 hours. The average weekly hours for production and non-management employees in the private sector increased by 0.2 hours to 33.8 hours. Revisions for January and February: The non-farm employment increase for January was revised down from the previously reported +125,000 to +111,000, a decrease of 14,000; the employment increase for February was revised down from +151,000 to +117,000, a decrease of 34,000. In total, the employment data for January and February combined is 48,000 less than previously reported. (The monthly revisions come from additional business reports and government reports since the last release and are based on a recalculation of seasonal factors.)