U.S. Jobs Surge in March, Unemployment Drops
Denver News Today | 2 Min News | The Daily News Now! · The Daily News Now!
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Show Notes
U.S. employers rebounded strongly in March, adding 178,000 jobs, surpassing expectations of 60,000 gains. The unemployment rate dropped to 4.3% from 4.4%. Healthcare, construction, and transportation/warehousing sectors led the job growth. However, higher energy costs and potential inflation due to U.S.-Israel strikes on Iran may slow hiring. Federal job losses continued, but layoffs remained low. Overall, job growth averaged 68,000 per month this quarter, with a shrinking workforce and more long-term unemployed. These numbers ease pressure on the Fed to cut rates, as they may skip cuts this year to handle inflation hits while the labor market adjusts.
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