WASHINGTON (AP) — America’s employers delivered another outpouring of jobs in March, adding a sizzling 303,000 workers to their payrolls and bolstering hopes that the economy can vanquish inflation without succumbing to a recession in the face of high interest rates.
Last month’s job growth was up from a revised 270,000 in February and was far above the 200,000 jobs that economists had forecast. By any measure, it amounted to a major burst of hiring, and it reflected the economy’s ability to withstand the pressure of high borrowing costs resulting from the Federal Reserve’s interest rate hikes. With the nation’s consumers continuing to spend, many employers have kept hiring to meet steady customer demand.
Friday’s report from the Labor Department also showed that the unemployment rate dipped from 3.9% to 3.8%. The jobless rate has now remained below 4% for 26 straight months, the longest such streak since the 1960s. The government also revised up its estimate of job growth in January and February by a combined 22,000.
Related articles:
Related suggestion:
Bankruptcies in Japan rise for 19th monthModel and influencer Nara Smith welcomes baby number three with husband Lucky Blue SmithChinese companies break ground on Serbia's expresswayPaintsil, Fagúndez spark Galaxy to 3Iowa Supreme Court overturns $790,000 sexual harassment award to government employeeRecord Qingming holiday box office heats up for May Day moviegoing frenzyPalestinian death toll rises to 22,438 in Gaza: ministryMexican president to challenge U.S. new antiRoman Josi's 2 goals and 2 assists lead Predators over Blue Jackets 6Int'l ministerial meeting calls for peace in Gaza
2.6003s , 6503.2734375 kb
Copyright © 2024 Powered by Another month of robust US job growth points to continued economic strength ,Worldly Wisdom news portal