Financial Job Growth Up in March, Report Says

The first quarter of 2017 saw a significant increase in January after 30,000 jobs were added, followed by a more modest showing in February and March. Over the last 12 months, the supersector has averaged 14,800 new jobs a month.

The financial industry added 9,000 jobs in March, an increase of 50 percent over February, according to the Bureau of Labor Statistics’ Economic Situation Report released on Friday, April 7, 2017.

“Employment growth within the financial activities supersector is up slightly over February’s revised gain of 6,000 jobs,“ said Jay Rollins, owner of FinancialJobsWeb.com, a leading career site specializing in financial job postings. “The first quarter of 2017 saw a significant increase in January after 30,000 jobs were added, followed by a more modest showing in February and March. Over the last 12 months, the supersector has averaged 14,800 new jobs a month.”

The financial activities supersector now sits at 8,409,000 employed workers with an unemployment rate of 2.3 percent, a drop from the 3.4 percent recorded the month earlier. Over the last 12 months, the supersector has gained 160,000 jobs. The supersector includes employment data from the finance and insurance sector and the real estate, rental and leasing sector.

The finance and insurance sector accounted for 86 percent of the job growth recorded in March, largely due to credit intermediation and related activities which gained 6,100 jobs. The finance and insurance sector now sits at 6,223,100 employed persons with an unemployment rate of 2.3 percent.

The real estate, rental and leasing sector gained 900 jobs in March. The sector now sits at 2,186,000 employed persons with an unemployment rate of 2.3 percent.

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