The Employment Situation: March 2001 — 2001-04-06

Nonfarm employment fell in March, while the unemployment rate was little changed at 4.3 percent, the Bureau of Labor Statistics of the U.S. Department of Labor reported today. A decline in nonfarm payroll employment of 86,000 reflected losses in manufacturing, help supply services, and retail trade. Employment rose in most services industries. Average hourly earnings rose by 6 cents over the month. The number of unemployed persons, 6.1 million, and the unemployment rate, 4.3 percent, were little changed in March. The rate had been in the range of 3.9 to 4.1 percent from the fall of 1999 until the end of 2000. In March, the unemployment rate for adult men rose to 3.8 percent. The rate for blacks increased by 1.1 percentage points to 8.6 percent, but this series can be very volatile. The unemployment rates for adult women (3.6 percent), teenagers (13.8 percent), whites (3.7 percent), and Hispanics (6.3 percent) were essentially unchanged over the month.