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:
Country star Morgan Wallen is seen for the FIRST time since his arrest as he steps out with exChina's procuratorate orders arrest of former supreme court judgeTibetan herdersActivist and model Charli Howard reveals how her 'manipulative' exPeople fight desertification in Ningxia, NW ChinaChina's logistics industry reports steady growth in 2023Cyprus suspends processing of Syrian asylum applications as boatloads of refugees continue arrivingPupils welcome new semester with lively activities in N China's HohhotJennie Garth recalls the valuable lessons she learned from her late coFamily members of mainland fishermen to go to Kinmen after fatal expulsion incident
2.4449s , 6516.2890625 kb
Copyright © 2024 Powered by Another month of robust US job growth points to continued economic strength ,Global Gleam news portal