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Special Report

Employment Research Brief

March 2020

Job Creation Exceeds Expectations; Pace Could Fluctuate in Coming Months

Employment growth remains strong. Employers added 273,000 positions in February, the strongest pace of job creation since May 2018. Figures from December and January were also revised up by a combined 85,000 jobs, producing an average monthly gain of 243,300 roles over the past three months. Hiring averaged 177,800 personnel per month last year. February’s robust recruiting metrics were sufficient to keep the unemployment rate unchanged at 3.5 percent, a 49-year low. Joblessness has remained below 4 percent for 20 of the past 24 months, a rare occurrence in American economic history.

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