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US Nonfarm Payroll Growth Retreats in March

April 1, 2022 by Forex Winner Leave a Comment

US Nonfarm Payroll

Source: Bureau of Labor Statistics

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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