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Finans

US: Svage beskæftigelsesdata for marts overrasker negativt

Morten W. Langer

fredag 07. april 2017 kl. 14:47

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Establishment Survey Data
Total nonfarm payroll employment edged up by 98,000 in March, following gains of 219,000 in
February and 216,000 in January. Over the month, employment growth occurred in professional and
business services (+56,000) and in mining (+11,000), while retail trade lost jobs (-30,000). (See table B-

In March, employment in professional and business services rose by 56,000, about in line with the
average monthly gain over the prior 12 months. Over the month, job gains occurred in services to
buildings and dwellings (+17,000) and in architectural and engineering services (+7,000).
Mining added 11,000 jobs in March, with most of the gain occurring in support activities for mining
(+9,000).

Mining employment has risen by 35,000 since reaching a recent low in October 2016.
In March, employment continued to trend up in health care (+14,000), with job gains in hospitals
(+9,000) and outpatient care centers (+6,000). In the first 3 months of this year, health care added an
average of 20,000 jobs per month, compared with an average monthly gain of 32,000 in 2016.

Employment in financial activities continued to trend up in March (+9,000) and has increased by
178,000 over the past 12 months.

Construction employment changed little in March (+6,000), following a gain of 59,000 in February.
Employment in construction has been trending up since late last summer, largely among specialty trade
contractors and in residential building.

Retail trade lost 30,000 jobs in March. Employment in general merchandise stores declined by 35,000
in March and has declined by 89,000 since a recent high in October 2016.
Employment in other major industries, including manufacturing, wholesale trade, transportation and
warehousing, information, leisure and hospitality, and government, showed little or no change over
the month.

The average workweek for all employees on private nonfarm payrolls was unchanged at 34.3 hours in
March. In manufacturing, the workweek edged down by 0.2 hour to 40.6 hours, and overtime edged
down by 0.1 hour to 3.2 hours. The average workweek for production and nonsupervisory employees
on private nonfarm payrolls edged down by 0.1 hour to 33.5 hours. (See tables B-2 and B-7.)
In March, average hourly earnings for all employees on private nonfarm payrolls increased by 5 cents
to $26.14, following a 7-cent increase in February. Over the year, average hourly earnings have risen by
68 cents, or 2.7 percent.

In March, average hourly earnings of private-sector production and
nonsupervisory employees increased by 4 cents to $21.90. (See tables B-3 and B-8.)
The change in total nonfarm payroll employment for January was revised down from +238,000 to
+216,000, and the change for February was revised down from +235,000 to +219,000. With these
revisions, employment gains in January and February combined were 38,000 less than previously
reported.

Monthly revisions result from additional reports received from businesses since the last
published estimates and from the recalculation of seasonal factors. Over the past 3 months, job gains
have averaged 178,000 per mont

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