March 2021 Jobs Report
Unemployment Rate: 6.0 percent
Jobs Created: 916,000
Employment and Unemployment
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The Department of Labor reported the unemployment rate decreased 0.2 percentage point to 6.0% in March.
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Nonfarm jobs increased by 916,000 in March.
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In January and February, job creation was stronger than first reported. The department revised the change in nonfarm jobs for those months up by a combined 156,000 jobs.
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The U-6 unemployment rate, a broader measure that includes part-time and discouraged workers, decreased by 0.4 percentage point to 10.7% in March.
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President Biden’s action to revoke the Keystone XL pipeline permit on his first day in office cost jobs. The administration recently proposed job-killing tax increases, which would undermine the recovery.
Labor Force Participation
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The labor force participation rate, the share of people employed or looking for work, edged up 0.1 percentage point to 61.5%.
Wages
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In March, average hourly earnings for all employees in private nonfarm jobs decreased by $0.04 to $29.96.
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