The 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.
... [+]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. In another positive piece of data, the number of employment for February was revised upward to 750,000 jobs from the previously reported 678,000.
It appears that robust consumer demand has been spurred by the sharp drop in Covid-19 cases and the loosening of restrictions and mask mandates. It's not clear if the Russian invasion of Ukraine, supply chain disruptions and raging inflation factored into the March report. The number of permanent job losers decreased by 191,000 to 1.4 million in March and is little different from its February 2020 level of 1.3 million. The number of persons on temporary layoff was little changed over the month at 787,000 and has essentially returned to its February 2020 level. The number of job leavers—unemployed persons who quit or voluntarily left their previous job and began looking for new employment—fell by 176,000 to 787,000 in March.
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