The U.S. Bureau of Labor Statistics (BLS) released its employment / unemployment report for March on April 4th, 2025.
Employment / Unemployment
- Seasonally Adjusted U3- 4.2% Up from 4.1%
- Unadjusted U3- 4.2% Down from 4.5% in February
- Unadjusted U6- 7.9% Down from 8.4% in February
- Labor Force Participation Rate- 62.5% Up from 62.4%
- Employment- 158.506 million Up from 157.950 million
- Next data release May 2nd, 2025
Summary:
The total number of Employed increased in March, and Unadjusted Unemployment was down but Seasonally Adjusted Unemployment was up.
So although Unadjusted Unemployment fell sharply from 4.5% to 4.2% Adjusted Unemployment rose slightly from 4.1% to 4.2%.
According to the Commissioner of the U.S. Bureau of Labor Statistics:
“Total nonfarm payroll employment rose by 228,000 in March, higher than the average monthly gain of 158,000 over the prior 12 months. In March, job gains occurred in health care, in social assistance, and in transportation and warehousing.
Employment also increased in retail trade, partially reflecting the return of workers from a strike. Federal government employment declined.
Health care added 54,000 jobs in March, in line with the average monthly gain of 52,000 over the prior 12 months.
Retail trade added 24,000 jobs in March, as workers returning from a strike contributed to a job gain in food and beverage retailers (+21,000).
Employment in transportation and warehousing rose by 23,000 in March, about double the prior 12-month average gain of 12,000.
Within government, federal government employment declined by 4,000 in March, following a loss of 11,000 jobs in February. (Employees on paid leave or receiving ongoing severance pay are counted as employed in the establishment survey.)”
You can read the full BLS report here.
As usual, they are talking about “Seasonally Adjusted Jobs”.
Looking at the Unadjusted Establishment Survey report we see…
Looking at the Unadjusted Establishment Survey report we see…
Originally the BLS reported employment of 157.983 million for February
which they adjusted slightly to 157.950 million.
They are currently reporting 158.506 million jobs for March which is actually an increase of 523,000 jobs based on their original numbers. The LFPR was up from 62.4% to 62.5%.
Current Unemployment Rate Chart
As the chart below shows, although unemployment is still low, it is above the lows of 2019 and 2023. At 4.2%, Seasonally Adjusted unemployment is still “Very Good” it is still lower than the lowest achieved in 2006-2007.
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