Decline in payroll employment in March
April 09, 2001
Total nonfarm payroll employment declined by 86,000 in March, seasonally adjusted. Large losses continued in manufacturing and help supply, and employment in retail trade also fell. Employment grew in a number of industries, including finance and many components of services.
Manufacturing employment fell by 81,000 in March, following large losses in January and February. Since last June, employment losses in manufacturing have totaled 451,000, including 270,000 since December.
Employment in help supply, which primarily provides temporary workers to other businesses, has declined for 6 consecutive months, losing 273,000 jobs during the period.
Overall, services employment was little changed in March. Job gains in health services (26,000), social services (15,000), computer services (11,000), and several other industries were largely offset by the sharp decline in help supply services.
Employment in retail trade decreased by 46,000 in March, offsetting much of the February increase. Employment in finance, insurance, and real estate rose by 17,000 in March; since July, this industry has gained 120,000 jobs, following small losses in the first half of 2000.
Bureau of Labor Statistics, U.S. Department of Labor, The Economics Daily, Decline in payroll employment in March on the Internet at https://www.bls.gov/opub/ted/2001/apr/wk2/art01.htm (visited January 21, 2021).
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