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.
Justin Timberlake set to bring his The Forget Tomorrow World Tour to Australia in 2025
Final proof Biden's America is utterly adrift, ignored
Shooting injures 2 at Missouri high school graduation ceremony
The house we're buying has been downvalued by £40k: What should we do?
Why we need more than a British Isa to move the dial on UK smaller companies
Ramón Fonseca, partner in firm at center of "Panama Papers" scandal, dies
Jude Bellingham's new model girlfriend Laura Celia Valk looks sensational in a figure
Air Vanuatu cancels flights and considers bankruptcy protection
LeBron James UNFOLLOWS Diddy on Instagram after video of assault on ex
Can renting your entire wardrobe make you more stylish... and save you money?