The U.S. economy added 236,000 jobs in March, down from 311,000 in February.
The unemployment rate fell to 3.5%, close to the 53-year-low of 3.4% that was seen in January.
- The
labor force participation rate, including Americans working or looking
to work, rose to 62.6%, reaching pre-pandemic levels for the first time
in three years.
- The share of Americans aged 25 to 54 with jobs reached 80.7%, the highest level since 2001.
- Wages were up 0.3% from February to March, and annual hourly wage growth was up 4.2% in March.
- The construction industry cut 9,000 jobs in March, the first decline for the sector since January 2022.
- The unemployment rate for Black Americans fell to 5%, the lowest rate since the government began to track the data in 1972.
- The U.S. labor market has added 4.1 million jobs over the last year, an average of 345,417 per month.
