Employment situation for March 2014

http://mam.econoday.com/byshoweventfull.asp?fid=466995&cust=mam&year=2015&lid=0&prev=/byweek.asp#top

2015 Economic Calendar
powered by
U.S. & Intl Recaps   |   Event Definitions   |   Today's Calendar
Employment Situation Released On 4/3/2015 8:30:00 AM For Mar, 2015 Prior Prior Revised Consensus Consensus Range Actual Nonfarm Payrolls - M/M change 295,000  264,000  247,000  200,000  to 271,000  126,000  Unemployment Rate - Level 5.5 % 5.5 % 5.4 % to 5.6 % 5.5 % Private Payrolls - M/M change 288,000  264,000  240,000  207,000  to 260,000  129,000  Participation Rate - level 62.8 % 62.7 % Average Hourly Earnings - M/M change 0.1 % 0.1 % 0.2 % 0.2 % to 0.3 % 0.3 % Av Workweek - All Employees 34.6 hrs 34.6 hrs 34.6 hrs 34.6 hrs to 34.6 hrs 34.5 hrs Highlights The labor market has softened in several aspects. Payroll jobs increased a mere 126,000 in March after increases of 264,000 in February and 201,000 in January. January and February were revised down a net 69,000. Market expectations for March were for a 247,000 increase. The unemployment rate held steady at 5.5 percent and matched expectations. The labor force participation rate edged down marginally to 62.7 percent from 62.8 percent in February. Turning back to the establishment survey, private payrolls increased 129,000 in March after a 264,000 boost the month before. Analysts forecast 240,000. In March, employment continued to trend up in professional and business services, health care, and retail trade, while employment in mining declined. Employment in other major industries, including construction, manufacturing, wholesale trade, transportation and warehousing, information, financial activities, and government, showed little change over the month. Average hourly earnings rose 0.3 percent, topping expectations for 0.2 percent. The average workweek slipped to 34.5 hours versus 34.6 in February and coming in below forecasts for 34.6 hours The latest employment report clearly is soft and will add to arguments by Fed doves to delay rate hikes. Recent History Of This Indicator Nonfarm payroll employment increased 295,000 in February after healthy gains of 239,000 in January and 329,000 in December. The unemployment rate dipped to 5.5 percent from 5.7 percent in January. The labor force participation rate edged down marginally to 62.8 percent from 62.9 percent in January. The "U-6" underemployment rate was unchanged at 11.3 percent. Turning back to the establishment survey, private payrolls increased 288,000 in February after a 237,000 gain the month before. The median forecast was for 225,000. Average hourly earnings rose 0.1 percent, compared to 0.5 percent in January. Expectations were for a 0.2 percent gain. The average workweek held steady at 34.6 hours, equaling expectations. Definition The employment situation is a set of labor market indicators based on two separate surveys in this one report. The unemployment rate equals the number of unemployed persons divided by the total number of persons in the labor force, which comes from a survey of 60,000 households (this is called the household survey). Workers are only counted once, no matter how many jobs they have, or whether they are only working part-time. In order to be counted as unemployed, one must be actively looking for work. Other commonly known figures from the Household Survey include the labor supply and discouraged workers.  Why Investors Care   During the mature phase of an economic expansion, monthly payrolls gains of 150,000 or so are considered relatively healthy. In the early stages of recovery though, gains are expected to surpass 250,000 per month. Data Source: Haver Analytics   The civilian unemployment rate is a lagging indicator of economic activity. During a recession, many people leave the labor force entirely, so the jobless rate may not increase as much as expected. This means that the jobless rate may continue to increase in the early stages of recovery because more people are returning to the labor force as they believe they will be able to find work. The civilian unemployment rate tends towards greater stability than payroll employment on a monthly basis. It reveals the degree to which labor resources are utilized in the economy. Data Source: Haver Analytics     2015 Release Schedule Released On: 1/9 2/6 3/6 4/3 5/8 6/5 7/2 8/7 9/4 10/2 11/6 12/4 Release For: Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov   Share this page 6 Legal Notices | ©Copyright 1998-2015 Econoday, Inc.  powered by   Previous