America'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.
America'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.
The Labor Department's report Friday showed that last month's job growth helped reduce the unemployment rate to 3.6%, the lowest level since the pandemic erupted two years ago. Despite the inflation surge, persistent supply bottlenecks, the damaging effects of COVID-19 and now a war in Europe, employers have added at least 400,000 jobs for 11 straight months.
Inflation may be starting to weaken consumer spending, the main driver of the economy. Americans increased their spending by just 0.2% in February, down from a much larger gain in January. Full story here:ECONOMY BY THE NUMBERS 8 charts tracking the US economy Tags The business news you need Get the latest local business news delivered FREE to your inbox weekly.
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