US Nonfarm Payroll Growth Retreats in March

Nonfarm payrolls expanded at a slower pace in March, with growth driven mainly by service-providing firms during the month. QQQ is down 0.07%.

Payrolls increased by 431,000 in March, lower than the 750,000 in February and 704,000 in March 2021.
Private payrolls increased by 426,000, including 60,000 in goods-producing firms and 366,000 in services-providing firms.
Leisure and hospitality increased by 112,000; professional and business services by 102,000; and retail trade by 49,000.
The unemployment rate fell by 0.2 percentage points to 3.6%. This is equivalent to 6.0 million individuals, or 318,000 higher.
Permanent job losers fell by 191,000 to 1.4 million. Temporary layoffs stood at 787,000, and job leavers also at 787,000.
The labor force participation rate was little changed at 62.4%.

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