U.S. Economy Adds 192,000 Jobs in March

A blog about business and economics.
April 4 2014 10:06 AM

U.S. Economy Adds 192,000 Jobs in March

152354301-labourer-washes-windows-of-a-building-under
After months of snow and ice, hiring is starting to pick up again.

Photo by Jewel Samad/AFP/GettyImages

Finally, a jobs report that is free from snow.

The U.S. economy added 192,000 jobs in March, the Bureau of Labor Statistics said Friday, indicating that employers had picked up their pace of hiring after the winter slowdown. Unemployment held steady at 6.7 percent, but the employment-population ratio rose to its highest level since August 2009, a sign that more Americans are finding work.

Advertisement

“It’s a big deal that the employment-population ratio is starting to go up, because it hasn’t for the last five years,” said Mark Duggan, a professor of business economics and public policy at the University of Pennsylvania’s Wharton School. “If the unemployment rate starts to fall further, that might be because people are actually getting jobs and not just dropping out of the labor force.”

The payrolls figures for January and February, which had dragged in the frigidly cold weather, were revised up to show 37,000 more jobs had been created than previously reported. The March report missed estimates from economists who had projected payrolls would rise by 200,000 and unemployment would tick down to 6.6 percent.

Duggan said it was also promising that the average workweek for employees increased by 0.2 hours in March, which could indicate “underlying strength” and suggest that hiring will increase further in coming months. On the other hand, average hourly earnings for employees edged down by 1 cent to $24.30.

Alison Griswold is a Slate staff writer covering business and economics.

 

TODAY IN SLATE

Frame Game

Hard Knocks

I was hit by a teacher in an East Texas public school. It taught me nothing.

Chief Justice John Roberts Says $1,000 Can’t Buy Influence in Congress. Looks Like He’s Wrong.

After This Merger, One Company Could Control One-Third of the Planet's Beer Sales

Hidden Messages in Corporate Logos

If You’re Outraged by the NFL, Follow This Satirical Blowhard on Twitter

Sports Nut

Giving Up on Goodell

How the NFL lost the trust of its most loyal reporters.

How Can We Investigate Potential Dangers of Fracking Without Being Alarmist?

My Year as an Abortion Doula       

  News & Politics
Weigel
Sept. 15 2014 8:56 PM The Benghazi Whistleblower Who Might Have Revealed a Massive Scandal on his Poetry Blog
  Business
Moneybox
Sept. 15 2014 7:27 PM Could IUDs Be the Next Great Weapon in the Battle Against Poverty?
  Life
Outward
Sept. 15 2014 4:38 PM What Is Straight Ice Cream?
  Double X
The XX Factor
Sept. 15 2014 1:51 PM Why Not Just Turn Campus Rape Allegations Over to the Police? Because the Police Don't Investigate.
  Slate Plus
Tv Club
Sept. 15 2014 11:38 AM The Slate Doctor Who Podcast: Episode 4  A spoiler-filled discussion of "Listen."
  Arts
Brow Beat
Sept. 15 2014 8:58 PM Lorde Does an Excellent Cover of Kanye West’s “Flashing Lights”
  Technology
Future Tense
Sept. 15 2014 4:49 PM Cheetah Robot Is Now Wireless and Gallivanting on MIT’s Campus
  Health & Science
Bad Astronomy
Sept. 15 2014 11:00 AM The Comet and the Cosmic Beehive
  Sports
Sports Nut
Sept. 15 2014 8:41 PM You’re Cut, Adrian Peterson Why fantasy football owners should release the Minnesota Vikings star.