Unemployment Rate
3.8%
Total nonfarm payroll employment rose by 303,000 in March, while the unemployment rate changed little. The labor force participation rate rose slightly to 62.7%. The average workweek edged up by 0.1 hour to 34.4 hours, and average hourly earnings for all employees on private nonfarm payrolls increased by 12 cents, or 0.3%, to $34.69. Job gains occurred in healthcare, government, and construction, and employment in leisure and hospitality has returned to its pre-pandemic level.
According to the American Staffing Association, temporary help employment was 1.74% of total nonfarm employment in March.
Major Industry Employment
Notable Gains and Losses
- Healthcare and Social Assistance: +81,300
- Government: +71,000
- Leisure and Hospitality: +49,000
- Construction: +39,000
- Retail Trade: +17,600
- Transportation and Warehousing: +1,200
- Manufacturing: +/- 0
- Temporary Help Services: -1,300
Read the full report at BLS.gov
Workforce and Economic News
The Workforce Saving America’s Economy
Newsweek – April 8, 2024
As the U.S. population continues to age—due to lower birth rates and the biggest generations (Baby Boomers and Millennials) getting older—the number of older people still active in the workforce is growing. While this graying workforce is helping to drive the economy, experts say it’s not all good news. By 2032, the Bureau of Labor Statistics expects the median age to reach 42.7–42.8 for men and 42.5 for women. Read more at Newsweek.com.
Why Dropping College Degree Requirements Isn’t Actually Working
Human Resource Executive – March 22, 2024
Nearly half of employers say they are dropping college degree requirements for some of their roles, and nearly three-quarters of organizations note they are moving to skills-based hiring. But despite these pronouncements, there has been little actual advancement in hiring candidates without a college degree, according to a new joint report by the Burning Glass Institute and Harvard Business School’s Managing the Future of Work Project. Read more at HRExecutive.com.
Gen Z Takes on the Trades
The Daily Valet – April 2, 2024
America needs more plumbers and other tradespeople, and Gen Z is now answering the call. After being seen as somehow “less than” for years, Skilled Trades are newly appealing to the youngest cohort of American workers—many of whom are choosing to leave the college path. Rising pay and new technologies in fields from welding to machine tooling are giving trade professions a face-lift, helping them shed the image of being dirty, low-end work. Read more at TheDailyValet.com.
America Employed
Interviews Heat Up with Outlandish Demands, Support Iguanas, and Fistfights
ExpressPros.com – March 27, 2024
Despite expecting professionalism in interviews, U.S. hiring managers say they’ve seen it all from candidates — and job seekers report they have a few wild stories to tell about recruiters, too. This is according to a recent Express Employment Professionals-Harris Poll survey.
Half of hiring managers say being rude during an interview (68%), late (55%), and/or wearing unprofessional dress (53%) would cause them to not hire a candidate. Additionally, being uninformed about the company and/or position (47%), using unprofessional body language (44%), and/or not asking questions (27%) may also be detrimental. Read more at ExpressPros.com.
In a Sea of Applications, How Candidates Can Make a Splash
ExpressPros.com – March 13, 2024
As companies receive applications, information and candidates may blend—but U.S. hiring managers say certain factors can help prospective employees stand out. This is according to a recent Express Employment Professionals-Harris Poll survey.
Demonstrating passion for the role (52%), quantifying their achievements (43%), and showing that they’ve researched the company (43%) are among hiring managers’ top methods for a candidate to stand out to their company. Having a personal referral from someone who works at the company (38%), showing their creativity (36%), and keeping the resume short/concise (36%) may also be beneficial. Read more at ExpressPros.com.
