Total employment rose by 126,000 in March, and the unemployment rate remained at 5.5 percent.
Nonfarm payroll employment increased by 126,000 in March compared to gains averaging 269,000 over the prior 12 months. Job openings in the U.S. were at a 14-year high in February. Despite the rise in openings, total hiring in February slipped 1.6 percent to 4.9 million. That may reflect caution on the part of employers. It also suggests that they may be having trouble finding workers with the skills they need.
Some economists say employers aren’t offering enough pay to fill their available jobs. Rising openings could force businesses to offer higher wages.
The employment change for February revised down from +295,000 to +264,000, and the change for January revised down from +239,000 to +201,000 Incorporating revisions, employment has increased by an average 197,000 per month over the past 3 months
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126,000 #jobs added in March but the legal services sector loses 1,200 jobs. Read more on @SpecialCounsel's blog: http://spclcn.sl/1FIikSD
Average hourly earnings for all employees increased by 7 cents in March. Hourly earnings are up 2.1 percent over the year. Over the month, average weekly hours edged down 0.1 hour to 34.5 hours. Employment in professional and business services trended up in March (+40,000). Over the prior 12 months, job growth averaged 55,000 per month.
The Legal Sector is looking to grow.
The legal services sector lost 1,200 jobs in March despite an overall uptick in nationwide employment numbers, according to a Friday report from the U.S. Bureau of Labor Statistics — a result of consolidation, as opposed to growth, in the industry, one expert said.
The sector boasted a seasonally adjusted employment number of 1,119,400 in March, down from February’s 1,120,600 figure but still better than January’s 1,118,000 showing, according to the report.
Special Counsel releases monthly economic reports for employers in order to share important hiring and employment information. To learn more about the trends in the legal staffing market, contact a Special Counsel representative near you. Contact us today.
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