March Jobs Report: Economy Moving Steadily Toward Stable, Balanced Growth
Bernard E. Anderson, PhD
Whitney M. Young Professor Emeritus,
The Wharton School of the University of Pennsylvania
Chief Economic Advisor, National Urban League
Payroll employment rose 303,000 in March and the unemployment rate changed little at 8.3 percent. The labor force participation rate edged up to 62.7 percent, reflecting increased participation of women and immigrants.
There was a demographic split in the employment experience of two major racial groups: The number of Black employed declined 204,000 while white employment grew 601,000. Similarly, unemployment edged up slightly among Black workers, but declined among White workers. As a result, the Black/White unemployment disparity edged upward to 1.88, still below the persistent 2:1 ratio.
Average hourly earnings rose 0.3% to $34.69; average weekly hours remained unchanged at 34.1, producing average weekly earnings of $1,193.34.
