Economy
April 15, 2019
Net Job Creation Through March 2019
Written by Peter Wright
Net job creation in March totaled 196,000, an increase from an upwardly revised 33,000 in February. January was revised up by 1,000 to 312,000. Rising employment and wages are the main contributor to GDP growth because personal consumption accounts for almost 70 percent of GDP. Steel consumption is related to GDP; therefore, this is one of the indicators that help us understand the reality of the steel market.
Figure 1 shows the three-month moving average (3MMA) of the number of jobs created monthly since 2000 as the brown bars and the total number employed as the black line.
