March Jobs Report Triples Expectations – 178,000 Net Jobs Gained

The Bureau of Labor and Statistics (BLS) has released the March employment report [DATA HERE] reflecting gains of 186,000 private sector jobs, with another 8,000 federal government jobs eliminated.  Net gain 178,000 jobs.

Forecasters had anticipated around 63,000 net jobs gained: the actual result triples expectations.

[BLS Report – Table B]

This is a challenging time to use data to estimate overall employment strength, mainly due to the repatriation efforts underway that are removing illegal alien workers from the labor force.

As deportation efforts continue against the black-market workforce, in combination with targeting efforts toward fraudulent ‘mismatched’ social security records used to gain unlawful -albeit visible- market employment, it becomes challenging to quantify net realized job gains.

The overall goal is to remove the illegal alien workers, reestablish organic job market pressures to increase wages and pull American workers from the sidelines back into the labor market.  Removing illegal workers drives up real wages, that should (re)incentivize the labor market.   As these efforts continue, we are seeing wide variances, upward and downward swings, depending on the collection timing.

One of the positive aspects during this employment cycle is the reduction in the overall federal labor force.  Overall, in the past year, President Trump has removed 271,000 federal jobs more than reversing all of the govt jobs added during Joe Biden’s term in office.  This trend should continue.

(Via CBS) – Employers added 178,000 jobs in March, blowing past forecasts as job market rebounds. The March employment report beat consensus economic forecasts of 60,000 payroll gains last month, according to FactSet.

The unemployment rate dipped to 4.3% in March, down from 4.4% in the prior month.

The latest payroll gains mark a sharp reversal from February, when employers unexpectedly cut jobs amid signs of a slowing labor market. Friday’s report revised the reduction to 133,000, far larger than the 92,000 originally reported. February’s weak numbers were partially due to strikes in the health care industry and winter storms. (read more)