March Jobs Report: Employment At A Record High

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Key Takeaways:

  • 196,000 jobs were added last month alone.
  • Unemployment remained historically low at 3.8%.
  • Healthcare was the fastest growing industry again in March as it added 49,000 new workers1.

Last month, healthcare continued to grow at an explosive rate as it added 49,000 new jobs, more than double the 21,000 jobs added in February. While this is a positive sign of industry growth, healthcare’s rapid growth may prove challenging for hiring authorities as they continue to combat staffing shortages in an ever-expanding job market. And while quality leadership and good hiring decisions are essential to maintaining a skilled workforce, many organizations continue to struggle in terms of identifying and attracting talent. In order to do so, many facilities may opt to streamline their hiring processes by working with staffing agencies as well as investing in Human Resources.

Additional takeaways:

  • Payrolls grew by 196,000 and the unemployment rate stayed at a flat 3.8%.
  • Interestingly, wage gains were only 0.14% for the month.
  • The March numbers far surpassed the 33,000 jobs added in February.
  • The underemployment rate is unchanged at 7.3%. This includes part-time workers who would like to have a full-time position and those who want a job but have given up active searches for suitable employment1.

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Sources:

1Kelly, J. (April 5th, 2019) March Jobs Report Bounces Back With Record-High Employment, But Beware Of The Storm That’s Brewing

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