The U.S. economy added 303,000 jobs in March

Dan Li |
Chief Financial Officer | Snagajob + PhD in Economics | Northwestern University

The U.S. economy added 303,000 jobs in March, and numbers for January and February were revised up by 22,000, pointing to an overall strong first quarter and offering good news heading into the summer hiring season.

The largest gains were seen in the Healthcare, Government, and Construction industries. Leisure and Hospitality also added 49,000 jobs versus the 12-month average of 37,000.

The unemployment rate stayed mostly steady, dropping slightly to 3.8% in March. For the past 9 months, the unemployment rate has remained in the very narrow range of 3.7-3.9% with no major changes.

Wages continued to grow in March, increasing by $0.12 and bringing the 12-month growth to 4.1%.

On Snagajob, overall job postings are up 24% month over month and 29% year over year, with notable gains in the Food and Restaurant, Warehouse, and Construction industries.

Here’s your roundup of key insights from the report:

  • New York Times: "It’s a remarkable change from a year ago, when top financial analysts were largely convinced that a recession was only months away."

  • Wall Street Journal: "But wage growth remained contained, underscoring the growing belief among economists and policymakers that the country can keep adding jobs without fanning inflation."

  • Washington Post: "The jobs market is charging ahead in 2024, churning out more jobs per month on average than before the pandemic."

  • Reuters: "The U.S. economy is outshining its global peers even though the Fed has raised rates by 525 basis points since March 2022 to dampen inflation."

As the hourly expert, Snagajob is here to help with your hiring needs. Contact our team today to learn more about our solutions for enterprise, mid-size, and small businesses.

Hourly Jobs

All industry data is from 1/1/2023-3/31/2024

Here are the latest overall job numbers:

Overall hourly jobs are up 24% month over month and 29% year over year.

Here are the latest job numbers by industry and category:

Food & Restaurant jobs are up 7% month-over-month.

Hotel & Hospitality jobs are down 15% month-over-month.

Retail jobs are down 5% month-over-month.

Healthcare jobs are up 2% month-over-month.

Warehouse & Logistics jobs are up 7% month-over-month.