ibusinesslines.com
ibusinesslines.com June 24, 2017


On the March Jobs Report

20 April 2017, 06:34 | Kelvin Horton

Jobless aid applications fell to 234000 last week

U.S. weekly jobless claims post largest drop in almost two years

Jobless rates rose in four of Colorado's six other metropolitan areas with unemployment declining in Fort Collins and Grand Junction, but increasing in Boulder, Denver, Greeley and Pueblo.

The unemployment rate in March fell to 4.5 percent from February's 4.7 percent, the BLS said in its April 7 report.

The monthly average for job creation over the previous six months dipped to 28,900 from 36,500 in February.

WASHINGTON - Fewer Americans applied for unemployment benefits last week, a sign of the job market appears to be increasingly secure for workers.

Despite the weaker than expected job growth, the unemployment rate fell to 4.5 percent in March from 4.7 percent in February.

The Labor Department highlighted job growth in the professional and business services and mining sectors, which added 56,000 jobs and 11,000 jobs, respectively. In January, he pledged to create 25 million jobs in 10 years, which would amount to 208,000 jobs added to the economy per month.

The unemployment rate, which is derived from a separate survey, dropped to 4.5% against expectations for 4.7%.


With files from The Canadian Press. That's the lowest rate since December 2007.

According to a Reuters survey of economists, nonfarm payrolls likely increased by 180,000 jobs last month after rising by 235,000 in February.

Construction employment was only up a little, at a net of 9,000 new jobs.

The construction industry faced bad news. Retailers slashed their payrolls by almost 30,000, after cutting about 31,000 jobs in February.

The education and healthcare services category also saw the fewest new jobs in 15 months - possibly also indicating a sluggish economy.

But the lack of booming jobs numbers will need to be carefully massaged by the White House, after President Trump spent much of 2016 describing the USA economy in dire terms and claiming the employment gains reported under the Obama administration were a mirage. Those industries added 66,000 in February, but in March, only 16,000 jobs were added. But wage growth has been relatively flat since the recession despite the steady increase in jobs.

But some economists also have said the outsize job gains early this year defied a low unemployment rate that's supplying businesses a shrinking pool of available workers.



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