The U.S. labor market continued its consistent growth in March as 303,000 jobs were added, the Bureau of Labor Statistics said.
The unemployment rate has stayed below 4% for 26 consecutive months, the longest such period of low unemployment in more than five decades. The largest job gains in March were in the health care sector, with the addition of 72,000 jobs. There were also 71,000 new government jobs in March, the majority in the education sector. Average hourly earnings went up 12 cents between February and March, and average weekly earnings increased by over $7 per worker between months. The average weekly wage for U.S. workers is $1,193.34, up from $1,185.75.Average weekly earnings have increased by 4.1% in the last year.
According to Gallup, 30% of Americans would rate the economy as good or excellent, while 39% would consider it poor. In early 2022, 72% of Americans said it was a good time to find a quality job. That percentage dropped to 55% in January 2024.