Nonfarm employment moved ahead at a moderate pace in March, rising by 140,000. This latest figure brings average monthly jobs growth to 206,000 for the first quarter of 1996, compared to 142,000 in the fourth quarter of 1995. The total nonfarm and manufacturing diffusion indexes have reversed their downward paths, signaling that a growing number of industries have been reporting employment gains over the past few months.
Suggested citation: “Labor Markets,” Federal Reserve Bank of Cleveland, Economic Trends, no. 96-04, pp. 11-12, 04.01.1996.