March jobs report good for workers hit hardest by pandemic
There was good news in almost every part of the March jobs report this morning — particularly about workers who were most impacted by the pandemic.
Details: The unemployment rate held steady or fell for every demographic group (race, ethnicity, gender) compared to February.
- Women, for the second month in a row, gained a significant portion of new jobs.
- The unemployment rate for Black women 20-years and older fell.
- The unemployment rate fell for workers 55 and older too.
- The number of people who said they were unable to work because their employer closed or lost business fell by 40% — from 4.2 million in February to 2.5 million last month.
Sectors to watch: Compared to last year, unemployment rates have fallen significantly in services (leisure, hospitality, retail) as the economy reopened.