The long‑described stable but stagnant U.S. labor market showed signs of warming up in March, with hiring momentum continuing, according to new Bureau of Labor Statistics data released on May 5.
The number of hires rose by 655,000 from the previous month to 5.554 million. March’s reading was also above the 5.333 million registered the same time a year ago.
The increase was driven primarily by professional and business services (165,000), as well as accommodation and food services (124,000). Hires in transportation, warehousing, and utilities also rose, by 108,000.
Conversely, federal government hires declined by 7,000.
The total hiring rate—hires as a share of total employment—also edged up to 3.5 percent, from 3.1 percent in February….