US employers added a solid 236,000 jobs in March in sign of a still-resilient labor market despite Fed rate hikes.
WASHINGTON — America’s employers added a solid 236,000 jobs in March, reflecting a resilient labor market and suggesting that the Federal Reserve may see the need to keep raising interest rates in the coming months.
The unemployment rate fell to 3.5%, not far above the 53-year low of 3.4% set in January. Last month’s job growth was down from February’s gain of 326,000. Listen now and subscribe: Apple Podcasts | Google Podcasts | Spotify | RSS Feed | Omny Studio Friday’s government report suggested that the economy and the job market remain on solid footing despite nine rate hikes imposed over the past year by the Fed.
The March job gain may lead the Fed to conclude that the pace of hiring is still putting upward pressure on wages and inflation and that further rates hikes will be necessary. When the central bank tightens credit, it typically leads to higher rates on mortgages, auto loans, credit card borrowing and many business loans.
Subscribe to stay connected to Tucson. A subscription helps you access more of the local stories that keep you connected to the community.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Propst Arena to host 2024, 2025 Conference USA basketball championshipsConference USA Commissioner Judy MacLeod announced that the 2024 and 2025 Conference USA Men’s & Women’s Basketball Championships will be hosted at the Huntsville arena.
Read more »
Private sector added 145K jobs in March, fewer than expectedThe ADP National Employment report followed government data showing job openings falling below 10 million at the end of February for first time in nearly two years.
Read more »
US employers added 236,000 jobs in March in still-resilient labor marketUS employers added a solid 236,000 jobs in March in sign of a still-resilient labor market despite Fed rate hikes.
Read more »
Jobless claims far higher than thought, revisions show ahead of March jobs reportThe number of new applications for unemployment benefits was at 228,000 last week, much higher than recently reported numbers. Rising jobless claims are a proxy for layoffs, and so higher numbers suggest the labor market is weakening.
Read more »
Easter Drag March Set in Los Angeles to Protest Anti-LGBTQ LegislationKerri Colby and Honey Davenport of RuPaul's Drag Race fame will perform at the event, which protests anti-drag laws.
Read more »