General Business
By Elissa Frank, Executive Director of Focus NJ On May 30, 2025
The US economy saw continued job growth in March, adding 236,000 positions, according to the Bureau of Labor Statistics (BLS). This marks a steady upward trend in employment as the nation’s labor market remains resilient.
Over the past year, approximately 2.8 million jobs have been created, showcasing the ongoing recovery and strength of the economy. The unemployment rate held steady at 4.1%, the same as the previous month, reflecting stability in the labor market.
The job gains were broad-based, with several sectors contributing to the overall growth. Professional and business services led the way, adding 65,000 jobs in March, followed by the healthcare sector, which grew by 45,000 positions. Leisure and hospitality also experienced a boost, with 35,000 new jobs, while construction employment increased by 20,000. Manufacturing, an industry that has seen fluctuating trends in recent months, added 15,000 jobs, indicating employment growth occurring across industry sectors.
The labor force participation rate, which reflects the proportion of working-age individuals either employed or actively seeking work, remained unchanged at 62.4%. This suggests that the number of people entering the workforce has not shifted significantly in recent months. Likewise, the employment-population ratio remained stable at 59.9%, indicating that the percentage of the population with jobs has held steady.
Wage growth remains a key theme in the report. Average hourly earnings increased by 0.3% in March, contributing to a year-over-year wage increase of 3.2%. While wage growth is an important sign of a tight labor market, the 3.2% annual increase is in line with recent trends, reflecting both the demand for workers and pressure on employers to offer competitive compensation.
Overall, the March 2025 employment report paints a positive picture of the US labor market, with continued job growth, a stable unemployment rate, and rising wages. These trends underscore the resilience of the economy and the ongoing recovery across various sectors. However, the BLS data was compiled in early March before the Trump administration’s sweeping tariffs were announced and other nations responded with retaliatory tariffs on US products. This could potentially undermine the labor market’s resilience in the months ahead.
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