March 2025_________________________
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This month's job and employment summary data are below and this month's inflation data is below that.
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The Establishment Job Report with data released March 7 2025.
Current Job and Employment Data
Jobs
Total Non-Farm Establishment Jobs up 151,000 to 159,218,000
Total Private Jobs up
140,000 to 135,603,000
Total Government Employment up 11,000 to 23,615,000 Note
Civilian Non-Institutional Population up 162 thousand to 272,847,000
Civilian Labor Force up
down 385 thousand to 170,359,000
Employed down 588
thousand to 163,307,000
Employed Men down
507 thousand to 86,226,000
Employed Women
down 81 thousand to 77,081,000
Unemployed up
203 thousand to 7,052,000
Not in the Labor Force up 546 thousand to 102,847,000
Unemployment Rate
went up .1% to 4.1% or 7,052/170,359
Labor Force Participation Rate went down .2% to 62.4%, or 170,359/272,847
Prices and inflation measured by the Consumer Price Index (CPI) for all Urban Consumers was up by a monthly average of 2.9 percent for 2024.
The CPI February report for the 12 months ending with January shows the
CPI for All Items was up 3.0%
CPI for Food and Beverages was up 2.4%
CPI for Housing was up 3.9%
CPI for Apparel was up .9%
CPI for Transportation including gasoline was up 3.2%
CPI for Medical Care was up 2.6%
CPI for Recreation was up 1.6%
CPI for Education was up 3.8%
CPI for Communication was down 1.9%
This Month’s Establishment Jobs Press Report
A SO-SO MONTH AFTER A SO-SO MONTH
The Bureau of Labor Statistics published its March report for jobs in February. The civilian labor force was down 385 thousand with a drop of 588 thousand in the employed and an increase of 203 thousand in the unemployed. The increase in the unemployed more than offset the decrease in the labor force to increase the unemployment rate, which increased .1 percent to 4.1%. The participation rate decreased .2% to 62.4 percent, a very low rate.
Goods
production had a better month with 34 thousand new jobs with job gains in all
three subsectors. Natural resources had 5 thousand of the jobs; construction
added 19 thousand jobs and 10 thousand more jobs in manufacturing. In construction
specialty trade contractors added 14.6 thousand jobs with residential specialty
trade contractors up 12.6 thousand of the specialty trade jobs. There was an increase
of 2.5 thousand jobs in heavy and engineering construction.
The
10 thousand manufacturing jobs were more than last month. Durable goods were up
11 thousand jobs including machinery manufacturing up 3.5 thousand jobs and
motor vehicle manufacturing up 8.9 thousand jobs. Non-durable goods production did
worse, dropping a thousand jobs. There were 700 more jobs in food processing
and paper manufacturing added a 1.9 thousand jobs. Other durable and
non-durable goods sub sectors lost jobs.
Government
service employment increased a net 11 thousand jobs, but the federal government
employment was down 10 thousand jobs. State government added 1 thousand jobs
and local government added 20 thousand more. State and local government jobs
excluding education increased by 15.5 thousand. Public education was up a net
5.0 thousand this month, which was 10.3 thousand new jobs in local education
offset by a loss of 5.3 thousand jobs in state education. Private sector
education was up 9.6 thousand seasonally adjusted jobs, which brings the total
of 14.6 thousand new jobs in education.
Health
care took first place for private service sector job gains with 63 thousand new
jobs, down slightly from the last three months. All four of the health care
subsectors had more jobs with ambulatory care adding 25.6 thousand jobs;
hospitals added 14.9 thousand jobs, a good month for hospitals; nursing and
residential care were up 11.5 thousand jobs. Social assistance services added 11.1
thousand jobs, but with 10 thousand new jobs coming in just individual and
family services. The growth rate for health care was down from last month to 3.29
percent, above the average of 2.17 percent per month of the last 15 years.
Trade,
transportation and utilities had 21 thousand new jobs, a smaller gain than the
last two month. While wholesale trade jobs had 8.8 thousand new jobs, retail
trade was off 6.3 thousand jobs. Warehouse clubs and super centers had 10.1
thousand of these trade jobs, but no other trade sub sectors did well. Transportation
had 17.8 thousand new jobs but couriers and messengers had 23.5 thousand of the
jobs while modal transportation mostly lost jobs. Warehousing and storage were off 3.1 thousand
jobs.
Professional
and business services dropped 2 thousand jobs, less than last month. The
professional and technical services subsector lost 9.3 thousand jobs in a
terrible month where management of companies also lost 1.2 thousand jobs. The
third sub sector, administrative and support services including waste
management offset losses and added 8.1 thousand jobs. Among professional and
technical services, management consulting added 4.7 thousand jobs, after last
month’s decline. Architecture and engineering services added 3.2 thousand jobs
but otherwise everything was off; computer design and related services dropped
9.8 thousand jobs. There were small changes for remaining sub sectors.
Among
administrative support services, the primary job gains came in services to
buildings with 12.5 thousand new jobs and investigation and security services
up 5.5 thousand jobs. Job losses came in employment services down 12.3 thousand
jobs and business support services down another 4.2 thousand jobs among small
changes in other administrative support sub sectors.
Leisure
and hospitality lost a net 16 thousand jobs in a poor month for jobs. Arts,
entertainment and recreation added a net 7.8 thousand jobs but with amusements,
gambling and recreation down 4.7 thousand of the jobs. Performing arts and
spectator sports did well adding 10.7 thousand jobs. Accommodations added 3.7
thousand jobs while restaurants jobs were down 27.5 thousand,
an unusually large loss of jobs for a month.
Information services had 5 thousand
new jobs. Motion picture and sounding recording had 4.7 thousand jobs and publishing
added another .4 thousand, among small changes in other sub sectors. Financial
activities added 20.3 thousand jobs where finance and insurance added 10.4
thousand jobs and another 9.9 thousand jobs in real estate and rental and
leasing services. The category, other, added 4.1 thousand jobs, after last
month’s big gain. Personal and laundry services added 2.8 thousand jobs while
non-profit membership associations added 3.9 thousand jobs. Repair and
maintenance services was down 2.6 thousand of the jobs.
The economy added 151 thousand jobs for February, and like last month a modest increase. Establishment employment in February was 159.218 million with an annual growth rate of 1.14 percent, barely population growth. Health care continued its dominant place in job growth with 42 percent of new jobs this month. Leisure and hospitality and business and professional services did poorly. Cutting the federal portion of Medicaid funding with its health care jobs will push the economy into recession and sharply decrease job growth. This month’s job total is 1.947 million above February a year ago and 4.158 million jobs above February two years ago.
February Details
Non Farm Total +151
The Bureau of Labor Statistics (BLS) reported Non-Farm employment for establishments increased from January by 151 thousand jobs for a(n) February total of 159.218 million. (Note 1 below) An increase of 151 thousand each month for the next 12 months represents an annual growth rate of +1.14% The annual growth rate from a year ago beginning February 2024 was +1.24%; the average annual growth rate from 5 years ago beginning February 2020 was +.86%; from 15 years ago beginning February 2010 it was +1.38%. America needs growth around 1.5 percent a year to keep itself employed.
Sector breakdown for 12 Sectors in 000’s of jobs
1. Natural Resources +5
Natural Resources jobs including logging and mining increased 5 thousand from January with 625 thousand jobs in February. An increase of 5 thousand jobs each month for the next 12 months would be an annual growth rate of +9.68 percent. Natural resource jobs were down 8 thousand from a year ago. Jobs in 2000 averaged around 600 thousand with little prospect for growth. This is the smallest of 12 major sectors of the economy with .4 percent of establishment jobs.
2. Construction +19
Construction jobs were up 19 thousand from January with 8.310 million jobs in February. An increase of 19 thousand jobs each month for the next 12 months would be an annual growth rate of +2.75 percent. Construction jobs are up 174 thousand for the 12 months just ended. The growth rate for the last 5 years is 1.67%. Construction jobs rank 9th among the 12 sectors with 5.2 percent of non-farm employment.
3. Manufacturing +10
Manufacturing jobs were up 10 thousand from January with 12.765 million jobs in February. An increase of 10 thousand jobs each month for the next 12 months would be an annual growth rate of +.94 percent. Manufacturing jobs were down for the last 12 months by 88 thousand. The growth rate for the last 5 years is -.05%; for the last 15 years by +.73%. Manufacturing ranks 6th among 12 major sectors in the economy with 8.0 percent of establishment jobs.
4. Trade, Transportation & Utility +21
Trade, both wholesale and retail, transportation and utility employment were up 21 thousand jobs from January with 29.099 million jobs in February. An increase of 21 thousand jobs each month for the next 12 months would be an annual growth rate of +.87 percent. Jobs are up by 243 thousand for last 12 months. Growth rates for the last 5 years are +.86 percent. Jobs in these sectors rank first as the biggest sectors with combined employment of 18.3 percent of total establishment employment.
5. Information Services +5
Information Services jobs were up 5 thousand from January with 2.952 million jobs in February. An increase of 5 thousand each month for the next 12 months would be an annual growth rate of +2.04 percent. (Note 2 below) Jobs are down by 11 thousand for the last 12 months. Information jobs reached 3.7 million at the end of 2000, but started dropping, reaching 3 million by 2004 and has slowly come back to 3.0 million in the last decade. Information Services is a small sector ranking 11th of 12 with 1.9 percent of establishment jobs.
6. Financial Activities +21
Financial Activities jobs were up by 21 thousand jobs from January to 9.241 million in February. An increase of 21 thousand jobs for the next 12 months would be an annual growth rate of +2.73 percent. Jobs are up 86 thousand for the last 12 months. (Note 3 below) This sector also includes real estate as well as real estate lending. The long term growth rates are now at a 5 year growth rate of +.81 percent, and a 15 year growth rate of +1.20 percent. Financial activities rank 8th of 12 with 5.8 percent of establishment jobs.
7. Business and Professional Services -2
Business and Professional Service jobs went down 2 thousand from January to 22.573 million in February. A decrease of 2 thousand each month for the next 12 months would be an annual growth rate of -.11 percent. Jobs are down 88 thousand for the last 12 months. Note 4 The annual growth rate for the last 5 years was +1.01 percent. It ranks as 2nd among the 12 sectors now. It was 2nd in 1993, when manufacturing was bigger and third rank now with 14.2 percent of establishment employment.
8. Education including public and private +15
Education jobs were up 15 thousand jobs from January at 14.849 million in February. An increase of 15 thousand jobs each month for the next 12 months would be an annual growth rate of +1.18 percent. These include public and private education. Jobs are up 216 thousand for the last 12 months. (note 5) The 15 year growth rate equals +.62 percent. Education ranks 5th among 12 sectors with 9.3 percent of establishment jobs
9. Health Care +63
Health care jobs were up 63 thousand from January to 23.066 million in February. An increase of 63 thousand each month for the next 12 months would be an annual growth rate of +3.29 percent. Jobs are up 877 thousand for the last 12 months. (note 6) The health care long term 15 year growth rate has been +2.17 percent lately compared to +3.29 percent for this month’s jobs. Health care ranks 2nd of 12 with 14.5 percent of establishment jobs.
10. Leisure and hospitality -16
Leisure and hospitality jobs were down 16 thousand from January to 16.949 million in February. (note 7) A decrease of 16 thousand each month for the next 12 months would be an annual growth rate of -1.13 percent. Jobs are up 214 thousand for the last 12 months. More than 80 percent of leisure and hospitality are accommodations and restaurants assuring that most of the new jobs are in restaurants. Leisure and hospitality ranks 4th of 12 with 10.7 percent of establishment jobs. It moved up to 7th from 4th in the pandemic decline.
11. Other +4
Other Service jobs, which include repair, maintenance, personal services and non-profit organizations were up 4 thousand from January to 6.019 million in February. An increase of 4 thousand each month for the next 12 months would be an annual growth rate of +.80 percent. Jobs are up 91 thousand for the last 12 months. (Note 8) Other services had +.83 percent growth for the last 15 years. These sectors rank 10th of 12 with 3.8 percent of total non-farm establishment jobs.
12. Government, excluding education +6
Government service employment went up 6 thousand from January at 12.769 million jobs in February. An increase of 6 thousand each month for the next 12 months would be an annual growth rate of +.52 percent. Jobs are up 305 thousand for the last 12 months. (note 9) Government jobs excluding education tend to increase slowly with a 15 year growth rate of +.39 percent. Government, excluding education, ranks 7th of 12 with 8.0 percent of total non-farm establishment jobs.
Sector Notes__________________________
(1) The total cited above is non-farm establishment employment that counts jobs and not people. If one person has two jobs then two jobs are counted. It excludes agricultural employment and the self employed. Out of a total of people employed agricultural employment typically has about 1.5 percent, the self employed about 6.8 percent, the rest make up wage and salary employment. Jobs and people employed are close to the same, but not identical numbers because jobs are not the same as people employed: some hold two jobs. Remember all these totals are jobs. back
(2) Information Services is part of the new North American Industry Classification System(NAICS). It includes firms or establishments in publishing, motion picture & sound recording, broadcasting, Internet publishing and broadcasting, telecommunications, ISPs, web search portals, data processing, libraries, archives and a few others.back
(3) Financial Activities includes deposit and non-deposit credit firms, most of which are still known as banks, savings and loan and credit unions, but also real estate firms and general and commercial rental and leasing.back
(4) Business and Professional services includes the professional areas such as legal services, architecture, engineering, computing, advertising and supporting services including office services, facilities support, services to buildings, security services, employment agencies and so on.back
(5) Education includes private and public education. Therefore education job totals include public schools and colleges as well as private schools and colleges. back
(6) Health care includes ambulatory care, private hospitals, nursing and residential care, and social services including child care. back
(7) Leisure and hospitality has establishment with arts, entertainment and recreation which has performing arts, spectator sports, gambling, fitness centers and others, which are the leisure part. The hospitality part has accommodations, motels, hotels, RV parks, and full service and fast food restaurants. back
(8) Other is a smorgasbord of repair and maintenance services, especially car repair, personal services and non-profit services of organizations like foundations, social advocacy and civic groups, and business, professional, labor unions, political groups and political parties. back
(9) Government job totals include federal, state, and local government administrative work but without education jobs. back
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Notes
Jobs are not the same as employment because jobs are counted once but one person could have two jobs adding one to employment but two to jobs. Also the employment numbers include agricultural workers, the self employed, unpaid family workers, household workers and those on unpaid leave. Jobs are establishment jobs and non-other. back
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