Employers Added Surprisingly Strong 303K Jobs in March – RVBusiness – Breaking RV Industry News
WASHINGTON — America’s employers delivered another outpouring of jobs in March, adding a sizzling 303,000 workers to their payrolls and bolstering hopes that the economy can vanquish inflation without succumbing to a recession in the face of high interest rates, according to an Associated Press report.
Last month’s job growth was up from a revised 270,000 in February and was far above the 200,000 jobs that economists had forecast for March. By any measure, it amounted to a strong burst of hiring, and it reflected the economy’s ability to withstand the pressure of high borrowing costs resulting from the Federal Reserve’s interest rate hikes. With the nation’s consumers continuing to spend, many employers have kept hiring to meet steady customer demand.
Friday’s report from the Labor Department also showed that the unemployment rate dipped from 3.9% to 3.8%. The jobless rate has now come in below 4% for 26 straight months, the longest such streak since the 1960s. The government also revised up its estimate of job growth in January and February by a combined 22,000.
Click here to read the full Associated Press report.
