BLS Jobs Report

The Bureau of Labor Statistics (BLS) reported that were 916,000 jobs created in March, which was stronger than the 675,000 expected. Leisure and Hospitality and Construction led the way on job gains. There were positive combined revisions to January and February, totaling 156,000. The Unemployment rate improved from 6.2% to 6%. The unemployment rate is derived from the household survey, which has its own job creation component. Within the household survey, there were 609,000 job creations, while the labor force increased by 347,000. The number of unemployed people decreased by 262,000, causing the unemployment rate to fall slightly.