These two industries were bright spots in March’s jobs report
Although only 98,000 jobs were added last month, the unemployment rate dropped and wages went up.
Spring is a time for new beginnings—and apparently for new jobs, too, according to the latest edition of the U.S. Bureau of Labor Statistics’ monthly jobs report.
The labor market added 98,000 jobs in March, which isn’t as high as we might have hoped for, but don’t let that number get you down.
Evidently, the warm weather we were spoiled with in February, followed by that cold spell we got in March were huge factors in terms of job creation during those months, according to the Washington Post.
“Economists had widely expected the official jobs data for March to come in below those of January and February, when unseasonably warm weather buoyed many industries,” the Post reports. “In what was the second-warmest February on record, the construction industry added more jobs than it had in a decade. In March, however, a cold snap and winter storm returned to dog the East Coast and Midwest, weighing on economic activity.”
Nevertheless, a deeper look at the March report has a few industries, in particular, springing out at us: mining and professional and business services.
Leading the way in terms of job creation, employment in professional and business services increased by 56,000, with gains made in services to buildings and dwellings (+17,000) and in architectural and engineering services (+7,000). Additionally, more than 9,000 jobs were also added in financial activities.
These findings align with the latest edition of the Monster 100—our monthly roundup of companies posting the most job listings on Monster—with AT&T, CenturyLink, American Income and Maintenance Engineering sitting high on our list.
Following a strong gain of 59,000 jobs in February, employment in construction ticked up, with more than 6,000 jobs added last month.
A usual hiring powerhouse, employment in health care also continued to trend up. These jobs were found mostly in hospitals (+9,000) and outpatient care centers (+6,000), but on the Monster 100, you’ll find the most jobs available right now at Unitedhealth Group, Kindred Healthcare and Christus Health, all of which cracked our top 10.
Though the retail trade sector didn’t perform well in the March report, there are still jobs available on Monster in this sector. Just look to the Monster 100 and you’ll see major retailers, such as David’s Bridal, Jos. A .Bank and The Bon-Ton stores, making big hires right now.
The unemployment rate dipped .2 percentage points to 4.5%, and average hourly earnings continued to tick up, with a 5-cent increase, totaling $26.14, according to the report.
And despite January’s job numbers revised down to 216,000 and February’s down to 219,000, we can’t forget that this has been an excellent year for job creation, as more than half of a million jobs have already been added in 2017.
April’s jobs report comes out Friday, May 5 at 8:30 a.m. In the meantime, you can see which companies are hiring now on the full Monster 100 list.