WASHINGTON (AP) — 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.
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. By any measure, it amounted to a major 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 remained 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.
Saudi Arabia is going to sponsor the WTA women's tennis rankings under a new partnership
2 suspects detained in Poland for attack on a Navalny ally in Lithuania
NWSL champion Gotham FC sign German goalkeeper Ann
She means business! Rita Ora steps out in chic tailored three
Verona confirms Serie A status for another year after beating Salernitana
Thai leaders ready to increase humanitarian aid in Myanmar — Radio Free Asia
The US attempts a new military deal with Niger in a last ditch effort to stay
Nicola Peltz cements the end of 'feud' with 'beautiful' mother
Storms damage homes in Oklahoma and Kansas. But in Houston, most power is restored
Hawaii Supreme Court chides state's legal moves on water after deadly Maui wildfire