We are so back? After a dour jobs report in February, March delivered surprisingly strong gains for the US labor market, according to the Bureau of Labor Statistics’ latest employment situation report. In fact, March’s job growth marked the highest monthly gains so far for President Trump’s second administration. However, looking beyond top-line payroll gains, something concerning is brewing within the economy, as people out of work gradually exit the labor market. That could be worrying for employers down the line, should job gains persist, one expert said. Employers added 178,000 jobs in March, beating economists’ expectations of 60,000. Healthcare, recovering from strikes earlier this winter, led in job growth by industry, adding 76,000 jobs. That was followed by construction, which added 26,00 jobs, and transportation and warehousing, which added 21,000. Additionally, the topline unemployment rate fell slightly from 4.4% to 4.3% in March. Looking at the topline job gains and unemployment may suggest “a really good report,” Nicole Bachaud, a labor economist at ZipRecruiter, told HR Brew. Looking under the hood, however, shows a different picture. “When you look underneath at some of the underlying foundational numbers, it tells a quite different story.” For more on what HR needs to know about the latest jobs report, keep reading here.—PM |