Jobs Friday | April 2025
March Jobs Report
Happy Friday!
Federal Reserve Chairman Jerome Powell spoke this morning at the Society for Advancing Business Editing and Writing conference. Following his speech, the first question asked was a jovial “How’s your week going?” He responded, “So far, so good.” It’s a reminder of how much data his role requires him to process while staying measured in his responses—something we can relate to when assessing our slice of the macro economy.
How is 2025 going, CSP?
“So far, so good!”
The US employment market closed out Q1 on a strong note, adding 228,000 net new jobs in March. Most hiring occurred in Healthcare, Social Assistance, and Transportation and Warehousing. While March exceeded expectations, February’s numbers were revised down from 151,000 to 117,000.
However, the March job gains far exceeded economists’ predictions of 130,000, reinforcing the labor market’s resilience. Wage growth showed a modest slowdown, with average hourly earnings increasing by 3.8% year-over-year, down 0.3 percentage points from last year. This deceleration in wage growth suggests that while the labor market remains strong, inflationary pressures may be easing.
What about federal layoffs? Good question. The government lost 4,000 jobs in March, and we’ve seen firsthand outreach from former federal employees now seeking new roles. This likely contributed to the .1% unemployment rate increase, bringing it to 4.2%. As Chairman Powell noted, this still reflects near-full employment.
As we’ve monitored federal layoffs this month, in May, we’ll be watching for potential tariff impacts. Stay tuned!
What we're reading
Why Gen-Z Wants to Return to the Office via Newsweek
Lack of mentorship has become the biggest challenge for women in revenue-generating roles via HR Brew
7 extra ways to prep for an important job interview via Fast Company
Serving Our Community Beyond the Workplace
In March, the CSP team took a break from the office to volunteer at the Maryland Food Bank, packing over 1,000 one-pound bags of macaroni! Through our Community Connections program, we are grateful to have the opportunity to give back and bond as a team.
Volunteer at the Maryland Food Bank
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