The March jobs report data was better than expected: 303,000 jobs were added, and the unemployment rate fell to 3.8%. Some of the sectors that saw the highest gains included healthcare, construction, and hospitality.
The leisure and hospitality sector added 49,000 jobs in March, returning to pre-pandemic February 2020 levels. Diving deeper into the numbers, restaurants and bars made up 28,300 of the leisure and hospitality sector gains, with hotels and lodging accounting for 3,200 jobs. Entertainment, museums, and other related industries also saw job gains within the sector as consumers continue to spend on experiences.
The construction sector gained 39,000 jobs in March. Non-residential construction jobs increased by 2,300, while residential construction jobs grew by 5,500. As this sector looks to hire more individuals, wages have seen a 5% increase over the past two years.
The healthcare sector added 72,000 jobs in March. Despite the ongoing staffing shortage the industry faces, the labor market is starting to slowly recover to pre-pandemic levels. Hospitals saw 28,000 workers added, while outpatient centers experienced 27,000 job gains.
Yahoo Finance Reporters Dani Romero, Anjalee Khemlani, and Brooke DiPalma break down the details.
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