Published: Sun, April 07, 2019
Markets | By Otis Pena

Healthcare sector saw highest job growth in March

Healthcare sector saw highest job growth in March

NATIONAL REPORT-The U.S. economy added 196,000 jobs in March, and the unemployment rate is unchanged at 3.8%, according to a report from the U.S. Bureau of Labor Statistics.

March numbers for MA and for towns and cities will not be available for a few more weeks.

"With a strong March employment report now in the books, we've gotten some reassurance that the labor market is still strong", said Steve Rick, chief economist at CUNA Mutual Group. By comparison, in 2000, when the unemployment rate averaged 4.0 percent, the percentage due to voluntary quits averaged 13.7 percent.

Technical services contributed 34,000 jobs while drinking and food establishment contributed 27,000. January was revised up by 1,000 jobs to 312,000.

Employment growth still remains on a distinct downward trend, partially because of February's abnormally low numbers. They were not counted as unemployed because they had not searched for work in the 4 weeks preceding the survey.

The labor force participation rate was also little changed, at 63 percent, and has shown nearly no movement over the last 12 months. Growth in the sector has accelerated sharply in recent months, averaging 42,500 since November, compared with an average of just 27,100 in the year from November 2017 to November 2018. In the first quarter of 2019, the country added about 116,000 new jobs.

Corona, Modelo beers drive Constellation beat, wines leave a stain
During the same quarter in the prior year, the business earned $1.90 earnings per share. "We're comfortable with the divestiture". It was reported last month that Constellation was nearing a deal to sell off some of its underperforming lower-end wine brands.

Restaurants and bars also did a lot of hiring last month, adding 27,000 positions.

Construction showed little change in March (up 16,000) but has increased by 246,000 over the past 12 months.

Wage gains rose 0.14 percent last month with paychecks 3.2 percent bigger, year-over-year. Within the industry, employment in motor vehicles and parts declined in March (down 6,000).

In other areas, the employment picture was little changed from the month before.

The average workweek for all employees on private nonfarm payrolls increased by 0.1 hour to 34.5 hours in March, offsetting a decline of 0.1 hour in February. There was also a modest uptick in the duration measures of unemployment with both the average and median durations rising, as well as the share of long-term unemployed.

Like this: