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Jobs Prints at 311,000, but Economy Still on Track for Recession in Third Quarter 2023

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Jobs Prints at 311,000, but Economy Still on Track for Recession in Third Quarter 2023
A 'Now Hiring' sign is posted in the window of an ice cream shop in Los Angeles, Calif., on Jan. 28, 2022. Frederic J. Brown/AFP via Getty Images
J.G. Collins
Updated:
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Commentary

New jobs created printed at 311,000 on March 10, according to the Establishment Survey, far exceeding market expectations of 205,000 jobs. The Household Survey printed lower at 150,000. Net revisions were down 34,000 from December and January. The overwhelming majority of jobs were in the lower-wage sector, and job losses occurred in some of the higher wage sectors, as illustrated in our exclusive chart of Jobs Creation by Average Weekly Wages.

J.G. Collins
J.G. Collins
Author
J.G. Collins is managing director of the Stuyvesant Square Consultancy, a strategic advisory, market survey, and consulting firm in New York. His writings on economics, trade, politics, and public policy have appeared in Forbes, the New York Post, Crain’s New York Business, The Hill, The American Conservative, and other publications.
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