US Jobless Rate Holds Steady at 3.8%
The US unemployment rate came in at 3.8 percent in March 2019, unchanged from the previous month's figure and in line with market expectations. The number of unemployed persons decreased by 24 thousand to 6.2 million while employment dropped by 201 thousand to 156.7 million.
4/5/2019 12:42:59 PM
Among the major worker groups, the unemployment rates for adult men (3.6 percent), adult women (3.3 percent), teenagers (12.8 percent), Whites (3.4 percent), Blacks (6.7 percent), Asians (3.1 percent), and Hispanics (4.7 percent) showed little or no change in March.
In March, the number of long-term unemployed (those jobless for 27 weeks or more) was essentially unchanged at 1.3 million and accounted for 21.1 percent of the unemployed.
The labor force participation rate fell 0.2 percentage points to 63.0 percent and has shown little movement on net over the past 12 months. The employment-population ratio edged down 0.1 percentage points to 60.6 percent in March and has been either 60.6 percent or 60.7 percent since October 2018.
The number of persons employed part time for economic reasons (sometimes referred to as involuntary part-time workers) was little changed at 4.5 million in March. These individuals, who would have preferred full-time employment, were working part time because their hours had been reduced or they were unable to find full-time jobs.
There were 1.4 million persons marginally attached to the labor force, little different from a year earlier. (Data are not seasonally adjusted.) These individuals were not in the labor force, wanted and were available for work, and had looked for a job sometime in the prior 12 months. They were not counted as unemployed because they had not searched for work in the 4 weeks preceding the survey. Among the marginally attached, there were 412,000 discouraged workers in March, about unchanged from a year earlier. (Data are not seasonally adjusted.) Discouraged workers are persons not currently looking for work because they believe no jobs are available for them. The remaining 944,000 persons marginally attached to the labor force in March had not searched for work for reasons such as school attendance or family responsibilities.