On April 3rd, the U.S. Bureau of Labor Statistics released new data on the U.S. labor market during the month of March. Below are five graphs compiled by Equitable Growth staff highlighting important trends in the data.
After finally recovering from the Great Recession in recent months, the prime-age employment rate dropped nearly a percentage point from mid-February to mid-March.
As total unemployment increases, a larger share of unemployed workers have lost their jobs, rather than workers previously out of the labor force looking for work or workers voluntarily leaving their jobs.
Involuntary part-time work surged in March, as an increase in part-time work is an indicator of an unhealthy labor market.
Declining employment was led by the leisure and hospitality industry, which shed 459,000 jobs by mid-March.
Increases to the unemployment rate in March were marginally greater for those with less education.