讀後心得

According to a report released by the U.S. Bureau of Labor Statistics on April 4, 2025, the United States added 228,000 non-farm jobs in March, exceeding market expectations of 135,000. The job additions for January and February were revised down to 111,000 and 117,000, respectively, totaling a downward revision of 48,000. The unemployment rate in March rose to 4.2%, reaching the highest level since November 2024, while the broader unemployment rate decreased to 7.9%. The civilian labor force participation rate slightly increased to 62.5%, but it remains below last year’s level. The growth in average hours worked and average hourly earnings met expectations, but the year-on-year growth rates dropped to 3.2% and 3.8%, both the lowest since 2024. Additionally, employment in manufacturing saw a slight increase, while employment in federal government agencies decreased to 3 million, the lowest level since 2024.

The U.S. Department of Labor's Bureau of Labor Statistics released its latest report on April 4, showing that the non-farm sector added 228,000 jobs in March 2025, significantly higher than the market expectation of 135,000. At the same time, the job addition data for January and February 2025 was revised downwards, with a decrease of 14,000 and 34,000 jobs respectively, leading to a total downward revision of 48,000 jobs for those two months.

The report noted that the unemployment rate rose from 4.1% in February to 4.2% in March, the highest point since November 2024, and higher than the expected 4.1%; meanwhile, the broader unemployment rate (U6) fell from 8.0% to 7.9%. The adjusted "employment-population ratio" remained flat at 59.9%, below last year's 60.3%. In terms of labor force participation rate, March's data increased from 62.4% in February to 62.5%, but still lower than last year's 62.7%. The labor force participation rate for older adults (aged 55 and over) slightly increased to 38.2%.

The weekly average hours for private sector employees stayed at 34.2 hours, in line with market expectations, and slightly higher than 34.1 hours in January 2025. In terms of wage growth, the average hourly wage increased by 0.3% month-over-month in March, up from 0.2% in February, while the year-over-year rate fell from 4.0% to 3.8%, the lowest since July 2024, below market expectations. The year-over-year growth rate for average weekly wages also decreased from 3.7% in February to 3.2%, marking a new low since January 2024.

In the manufacturing sector, the average weekly hours slightly rose from 40.1 hours in February to 40.2 hours in March, and the average weekly overtime remained stable at 2.9 hours. Employment in manufacturing increased by 1,000 workers, reaching 12.764 million, slightly above the numbers from October 2024.

Additionally, employment in federal government agencies decreased by 4,000 in March, falling to 3 million, which is also the lowest level since June 2024.