Jobs, pay boom

The post-pandemic job market boom continues. That's the takeaway from the March numbers, out this morning.

Why it matters: After a year of labor shortages and high inflation, Americans are going back to work in massive numbers. And they're getting paid more — though not enough to raise new inflation alarms.

At first glance, the 431,000 jobs added in March look like a deceleration from the job growth totals for January and February — a revised 504,000 and 750,000 jobs added, respectively.

But employers still added more jobs in March than all but one month of the decade-long expansion during the 2010s.

For all the concerns about worker shortages, employers are finding new workers somewhere, on a scale unmatched in decades.