March Jobs Report Shows Hiring Gradually Cooling

Posted on AllSides April 7th, 2023
From The Center
Economy and Jobs, unemployment

U.S. hiring slightly cooled in March as employers added 236,000 workers, and the unemployment rate fell to 3.5%.

The labor market has remained solid a year after the Federal Reserve began aggressively raising interest rates to tame high inflation. Employers added jobs last month in leisure and hospitality, government, professional and business services and health care. They cut jobs in construction, manufacturing and retail, the Labor Department said Friday.

The labor force grew in March, helping take pressure off of wage growth. Average hourly earnings rose 4.2% last month from a year...

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