President Joe Biden hailed the March jobs report Friday, saying it shows that the U.S. economy 'has gone from being on the mend to on the move.' The government’s report showed that last month’s job growth helped shrink the unemployment rate to 3.6%.
FILE - A "now hiring" sign is posted in Garnet Valley, Pa., Monday, May 10, 2021. Job openings stayed at a near-record level in February, 2022, little changed from the previous month, continuing a trend that Federal Reserve officials see as a driver of inflation.
The job growth in March, though solid, was the lowest since September and slightly below what economists had expected. Still, Vincent Reinhart, chief economist at Dreyfus and Mellon, said the numbers show that “the U.S. economy continues to have underlying momentum and that firms are taking workers when they can.″The March report sketched a bright picture of the job market, with steady hiring and rising wages. Average hourly pay has risen a strong 5.
Across the economy, hiring gains were widespread last month. Restaurants and bars added 61,000 jobs, retailers 49,000, manufacturers 38,000 and hotels 25,000. Construction jobs rose by 19,000 and have now returned to their pre-pandemic level. “You can’t keep adding 400,000 workers a month without running out of workers,″ said Reinhart, a former high-ranking Fed economist.
In particular, Fichuk said, businesses need to draw more women back by, for example, offering flexible hours and childcare centers or stipends for childcare expenses.
Ireland Latest News, Ireland Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
War, Supply Chain Disruptions And Inflation: 431,00 New Jobs Were Added In MarchThe United States added 431,000 jobs in March. Unemployment fell to a pandemic low of 3.6%., the U.S. Bureau of Labor Statistics reported Friday. There were notable job gains in leisure and hospitality, professional and business services, retail trade and manufacturing.
Read more »
March jobs report 2022: US added 431,000 jobs in sign of economic healthThe U.S. added 431,000 jobs in March 2022 in a sign of a resilient economy — as unemployment fell to a pandemic low of 3.6%.
Read more »
US added 431,000 jobs in March in sign of economic healthAmerica's employers extended a streak of robust hiring in March, adding 431,000 jobs in the face of a still-destructive pandemic and rising inflation.
Read more »
U.S. Added 431,000 Jobs In March In Sign Of Economic HealthThe job market has continued to rebound with unexpected speed from the coronavirus recession.
Read more »
U.S. added 431,000 jobs in March in sign of economic healthAmerica’s employers extended a streak of robust hiring in March, adding 431,000 jobs in a sign of the economy’s resilience in the face of a still-destructive pandemic and the highest inflation in 40 years.
Read more »