Labor Department reports 236,000 added jobs in March | WORLD
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Labor Department reports 236,000 added jobs in March

A hiring sign is displayed in a window Associated Press/Photo by Nam Y. Huh

Labor Department reports 236,000 added jobs in March

The report, released on Friday, indicates that inflationary pressures could be easing, but that the economy remains on solid footing. March’s numbers are down from the 326,000 jobs added in February. The unemployment rate fell to 3.5 percent—just above a decades-low 3.4 percent in January. The Federal Reserve has raised interest rates nine times since March of last year in an attempt to subdue inflation.

What does the report indicate about easing inflationary pressures? Average hourly wages were up only 4.2 percent from twelve months ago, slowing from a rate of 4.6 percent in February. Also, 480,000 people were looking for a job in March, up from February’s number of 419,000 people. The more people there are looking for jobs, the less employers may feel the need to raise wages, which could ease inflationary pressure.

Dig deeper: Read Jerry Bowyer’s column in WORLD Opinions about how investors have given the U.S. economy a no-confidence vote.

Josh Schumacher

Josh is a breaking news reporter for WORLD. He’s a graduate of World Journalism Institute and Patrick Henry College.

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