Chart of the Day: Net New Jobs in March

The American economy gained 196,000 jobs last month. We need 90,000 new jobs just to keep up with population growth, which means that net job growth clocked in at 106,000 jobs. The unemployment rate remained at 3.8 percent.

Behind the headline number, the number of people in the labor force dropped by 369,000 and the number of employed people dropped by 201,000. The labor participation rate dropped from 63.2 percent to 63 percent, losing its recent gains and continuing its long-term record of flatness since 2016. These aren’t great numbers, especially after such a weak February report.

Earnings of production and nonsupervisory workers increased at an annualized rate of 3.2 percent in March. With inflation running at about 1.5 percent lately, this means blue collar workers saw an increase of 1.7 percent at an annualized rate. That’s not bad.

Overall, this is a mediocre jobs report. The top line number is sort of average, but the underlying numbers are pretty weak, especially since we’d normally expect a bigger rebound after February’s poor report. It’s not a reason to panic, perhaps, but it’s hardly great news, either. Time for a rate cut?

SIX TRUTHS

Reclaiming power from those who abuse it often starts with telling the truth. And in "This Is How Authoritarians Get Defeated," MoJo's Monika Bauerlein unpacks six truths to remember during the homestretch of an election where democracy, truth, and decency are on the line.

Truth #1: The chaos is the point.

Truth #2: Team Reality is bigger than it seems.

Truth #3: Facebook owns this.

Truth #4: When we go to work, we're in the fight.

Truth #5: It's about minority rule.

Truth #6: The only thing that can save us is…us.

Please take a moment to see how all these truths add up, because what happens in the weeks and months ahead will reverberate for at least a generation and we better be prepared.

And if you think journalism like Mother Jones'—that calls it like it is, that will never acquiesce to power, that looks where others don't—can help guide us through this historic, high-stakes moment, and you're able to right now, please help us reach our $350,000 goal by October 31 with a donation today. It's all hands on deck for democracy.

payment methods

SIX TRUTHS

Reclaiming power from those who abuse it often starts with telling the truth. And in "This Is How Authoritarians Get Defeated," MoJo's Monika Bauerlein unpacks six truths to remember during the homestretch of an election where democracy, truth, and decency are on the line.

Truth #1: The chaos is the point.

Truth #2: Team Reality is bigger than it seems.

Truth #3: Facebook owns this.

Truth #4: When we go to work, we're in the fight.

Truth #5: It's about minority rule.

Truth #6: The only thing that can save us is…us.

Please take a moment to see how all these truths add up, because what happens in the weeks and months ahead will reverberate for at least a generation and we better be prepared.

And if you think journalism like Mother Jones'—that calls it like it is, that will never acquiesce to power, that looks where others don't—can help guide us through this historic, high-stakes moment, and you're able to right now, please help us reach our $350,000 goal by October 31 with a donation today. It's all hands on deck for democracy.

payment methods

We Recommend

Latest

Sign up for our free newsletter

Subscribe to the Mother Jones Daily to have our top stories delivered directly to your inbox.

Get our award-winning magazine

Save big on a full year of investigations, ideas, and insights.

Subscribe

Support our journalism

Help Mother Jones' reporters dig deep with a tax-deductible donation.

Donate