US economy added 431,000 jobs in March: government

The United States added 431,000 jobs in March and the unemployment rate fell to 3.6%, bringing the labor market closer to where it was before the start of the Covid-19 pandemic, the report announced on Friday. government.

While payroll growth was slightly below analysts’ forecasts, the unemployment rate fell more than expected and is now approaching the 3.5% level seen in February 2020, before the mass layoffs that occurred when Covid-19 broke out nationwide.

The number of unemployed fell to six million, according to the Labor Department report, just above its pre-pandemic level of 5.7 million, while the number of people whose jobs ended involuntarily or who ended temporary employment was 1.4 million, also close to where it was in February 2020.

However, the number of people employed was still 1.6 million below its pre-pandemic level, the data showed.

Job gains were widespread last month as the leisure and hospitality sector, which includes bars and restaurants that have suffered the brunt of pandemic-related layoffs, added 112,000 jobs.

Professional and business services firms added 102,000 jobs in March, retailers added 49,000 and manufacturing gained 38,000 jobs.

The average hourly wage has continued to rise amid a general surge in inflation in the United States, up 5.6% over the past 12 months, according to the report.

The Labor Department also revised up its employment totals for January and February, saying they were a combined 95,000 more than first reports. (AFP)

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