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Industry Report

In March 2023, Professional & Business Services maintain a steady growth rate

March 2023 Jobs Report

Total non-farm payroll employment increased by 236,000 in March, compared with the average monthly gain of 334,000 over the prior 6 months. In March, employment continued to trend up in leisure and hospitality, government, professional and business services, and health care. Both the unemployment rate, at 3.5 percent, and the number of unemployed persons, at 5.8 million, changed little in March.

Among the unemployed, the number of permanent job losers increased by 172,000 to 1.6 million in March, and the number of re-entrants to the labor force declined by 182,000 to 1.7 million.

Total Jobs Added*

(* Non-Farm Jobs Only)

Unemployment Rate

(Increased by .1% since February)

Industry-Specific Updates
– March 2023

+39,000

Professional & Business Services

Scientific, and technical services +26,000
Monthly growth +34,000 over 6 months

+72,000

Leisure and Hospitality

Food services and drinking places + 50,000
Employment below pre-pandemic by 2.2%

+58,000

Healthcare

Ambulatory health care +34,000
Hospitals +11,000
Nursing and residential care +8,000
Home Healthcare +15,000

+10,000

Transportation & Warehousing

Couriers and messengers +7,000
Air Transportation +6,000
Warehousing -12,000

+19,000*

Manufacturing

Average jobs added +33,000 per month*
(* No change since Feb 2023)

Other Sectors

Social assistance + 17,000
Retail -15,000

In March, average hourly earnings for all employees on private nonfarm payrolls rose by 9 cents, or 0.3 percent, to $33.18. Over the past 12 months, average hourly
earnings have increased by 4.2 percent. In March, average hourly earnings of private-sector production and nonsupervisory employees rose by 9 cents, or 0.3
percent, to $28.50.

Source: The US Bureau of Labor Statistics

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