The unemployment rate, holding steady at 3.8 percent, and the quantity of unemployed individuals, standing at 6.4 million, showed minimal alteration in March. Since August 2023, the unemployment rate has remained within a narrow spectrum of 3.7 percent to 3.9 percent.
In March, there was little change in various employment metrics. The number of long-term unemployed, standing at 1.2 million, remained stable, constituting 19.5 percent of all unemployed individuals. Both the labor force participation rate, at 62.7 percent, and the employment-population ratio, at 60.3 percent, showed minimal alteration, mirroring trends over the year. The count of those working part time due to economic reasons, at 4.3 million, also saw little variation. These individuals, desiring full-time employment, were constrained to part-time work due to reduced hours or a lack of full-time opportunities. Additionally, the number of individuals not in the labor force but seeking employment, totaling 5.4 million, remained relatively unchanged. Despite their desire for work, they were not considered unemployed as they weren’t actively seeking employment in the previous four weeks or were unavailable for employment.
https://www.bls.gov/charts/employment-situation/civilian-labor-force-participation-rate.htm
https://www.bls.gov/charts/employment-situation/employment-population-ratio.htm