WASHINGTON, D.C. — Today, the Bureau of Labor Statistics announced that 228,000 jobs were added in March, far exceeding market expectations of just 140,000 jobs, with strong growth in health care, transportation, warehousing and construction.
The overall unemployment rate increased slightly to 4.2% in March from 4.1% in February. The unemployment rate for women fell slightly to 3.7% from 3.8%. The slight increase in unemployment overall could be driven by labor force participation increasing slightly to 62.5% from 62.4%.
The rise in labor force participation is driven by an increase in men’s labor force participation to 67.8% from 67.5%. Women’s labor force participation held steady from the previous month at 57.5%. Both men and women are still below pre-pandemic levels.
Carrie Sheffield, senior policy analyst at the Center for Economic Opportunity (CEO) at Independent Women’s Forum, issued the following statement:
“America’s strong job growth is a positive sign for our economy, but there is still much work to be done. Growth in the labor force participation rate means workers are enthusiastic about their chances to find work, and we hope this rate will continue to rise.
“Washington has undertaken positive steps to continue to improve the labor market. A new study shows President Trump’s deregulation efforts since taking office have saved Americans $180 billion — or $2,100 in savings for a family of four.
“As agency heads work with the Department of Government Efficiency to root out waste, fraud, and abuse, they will continue to save money for U.S. taxpayers, who are shouldered with an unsustainable nearly $37 trillion debt.
“Additionally, President Trump and Members of Congress are also working to renew tax reforms that will improve wage growth and ensure families keep more of their hard-earned money.
“We look forward to seeing these efforts bear fruit and continue to improve job creation for American families in the months ahead.”
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Independent Women’s Forum is dedicated to developing and advancing policies that aren’t just well intended but actually enhance people’s freedom, choices, and opportunities.
Independent Women’s Forum’s Center for Economic Opportunity (CEO) aims to educate the public about how government policies impact people’s opportunities for economic development and upward mobility.