March payrolls: +88,000, unemployment rate down to 7.6 per cent | FT Alphaville

March payrolls: +88,000, unemployment rate down to 7.6 per cent

Here we go again? Worries about yet another spring slowdown are likely to proliferate as payrolls climbed just 88,000 in March. The unemployment rate declined slightly to 7.6 per cent, and there were also upward revisions to the prior two months.

From the report:

Nonfarm payroll employment edged up in March (+88,000), and the unemployment rate was little changed at 7.6 percent, the U.S. Bureau of Labor Statistics reported today. Employment grew in professional and business services and in health care but declined in retail trade. …

Establishment Survey Data

Total nonfarm payroll employment edged up in March (+88,000). Over the prior 12 months, employment growth had averaged 169,000 per month. In March, employment increased in professional and business services and in health care, while retail trade employment declined. …

The change in total nonfarm payroll employment for January was revised from +119,000 to +148,000, and the change for February was revised from +236,000 to +268,000.