U.S. Job Markets Gain 192,000 Net New Jobs in March 2014 — Now Just Less Than 500,000 Jobs Short of All-Time Record Employment Numbers

The U.S. added 192,000 net new additional jobs in March of this year (preliminary), with the latest 12-month job growth at 1.65 percent. February 2014 job growth numbers were restated from an originally-announced 175,000 to 197,000, while January employment was raised from 129,000 to 144,000.

After peaking in January 2008 at 138.355 million jobs, the U.S. shed 8.71 million jobs in the recession, with the trough occurring in February 2010. Since then , the U.S. has added back all but 437,000 jobs – with a new record employment level likely in June 2014.

The following table lists the monthly employment since 2007, expressed in a seasonally-adjusted annualized rate (SAAR).

4-4-14 graph

The following segments of the economy reported job growth from February to March:

  • Professional and business services +57,000
  • Education and health +34,000
  • Retail +21,300
  • Food service and drinking places +30,400
  • Construction +19,000

While the Federal government cut 9,000 jobs in March, and state governments eliminated 2,000, local governments added 11,000, resulting in a zero net change in overall government employment.

Only manufacturing reported a decline in total jobs, down just 1,000.

The glass is indeed one-half full and filling. The economy, just like the weather, is improving.

Ted

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