Source: Peter Eavis, New York Times
The economy added 196,000 jobs in March 2019, which is a big increase compared to February’s disappointing report of only 20,000 jobs added versus the previous month.
Even better, employers appear to finally be offering wages increases after years of lackluster wage growth following the Great Recession.
Employment in warehousing and transportation, construction, and manufacturing all showed little change in March.
However, the leisure and hospitality industry added 33,000 jobs, showing the benefits of people having more money to spend due to better wage growth.
The average wage rose 3.2% versus a year ago, to $27.70 per hour.
| 2019 | 2018 | 2017 | |
|---|---|---|---|
| January | 4.0% | 4.1% | 4.8% |
| February | 3.8% | 4.1% | 4.7% |
| March | 3.8% | 4.1% | 4.5% |
| April | – | 3.9% | 4.4% |
| May | – | 3.8% | 4.3% |
| June | – | 4.0% | 4.4% |
| July | – | 3.9% | 4.3% |
| August | – | 3.9% | 4.4% |
| September | – | 3.7% | 3.7% |
| October | – | 3.7% | 4.1% |
| November | – | 3.7% | 4.1% |
| December | – | 3.9% | 4.1% |
| March 2019 Jobs Added | February 2019 Jobs added | |
|---|---|---|
| Transportation & Warehousing | +7,300 | -3,000 |
| Construction | +16,000 | -31,000 |
| Manufacturing | -6,000 | +4,000 |
| Retail Trade | -11,700 | -6,000 |
Sources: Bureau of Labor Statistics