Labor market indicators in March were mixed, with the Bureau of Labor Statistics reporting slow employment growth and reductions in both labor force participation and the unemployment rate. Only 46,000 jobs were added to the economy for the month, the slowest increase since January 1996. Although diminished by March’s paltry gain, average employment growth for the year to date remains solid (187,000).
Suggested citation: "Labor Markets," Federal Reserve Bank of Cleveland, Economic Trends, no. 99-04, pp. 11-12, 04.01.1999.