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Small Business Growth is Stagnant - Total nonfarm payroll employment increased by 110,000 in March, and the unemployment rate declined to 5.2 percent, the Bureau of Labor Statistics of the U.S. Department of Labor reported today.
Small Business Growth is Stagnant

 

NewswireToday - /newswire/ - Washington, DC, United States, 2005/04/07 - Total nonfarm payroll employment increased by 110,000 in March, and the unemployment rate declined to 5.2 percent, the Bureau of Labor Statistics of the U.S. Department of Labor reported today..

   
 
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THE EMPLOYMENT SITUATION: MARCH 2005

Total nonfarm payroll employment increased by 110,000 in March, and the unemployment rate declined to 5.2 percent, the Bureau of Labor Statistics of the U.S. Department of Labor reported today. Several industries added jobs over the month, including construction, mining, health care, and wholesale trade.

Both the number of unemployed persons, 7.7 million, and the unemployment rate, 5.2 percent, decreased in March. The jobless rate was down from 5.7 per-cent a year earlier. Over the month, the unemployment rates for adult men (4.6 percent), whites (4.4 percent), and Hispanics or Latinos (5.7 percent) declined. The unemployment rates for adult women (4.5 percent), teenagers (16.9 percent), and blacks or African Americans (10.3 percent) were little changed. The jobless rate for Asians was 3.9 percent, not seasonally adjusted.

In March, persons who had been unemployed for 27 weeks or more accounted for 21.5 percent of the unemployed, down from 23.8 percent a year earlier. Job losers made up 49.1 percent of the unemployed in March, down from 53.5 percent a year earlier.

Total Employment and the Labor Force (Household Survey Data)

Total employment and the employment-population ratio were about unchanged in March at 140.5 million and 62.4 percent, respectively. The civilian labor force participation rate was 65.8 percent for the third straight month.

Persons Not in the Labor Force (Household Survey Data)

There were 1.6 million persons who were marginally attached to the labor force in March, about the same as a year earlier. (Data are not seasonally adjusted.) These individuals wanted and were available to work and had looked for a job sometime in the prior 12 months. They were not counted as unemployed, however, because they did not actively search for work in the 4 weeks preceding the survey. The number of discouraged workers, at 480,000 in March, was little changed from a year earlier. Discouraged workers, a subset of the marginally attached, were not currently looking for work specifically because they believed no jobs were available for them. The other 1.1 million marginally attached had not searched for work for reasons such as school attendance or family responsibilities.

Source: Labor Force Statistics

 
 
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Small Business Growth is Stagnant

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