Axios reports:
The U.S. labor market continues to add jobs at a strong pace: Payrolls rose by 236,000 in March, while the unemployment rate ticked down to 3.5%, the lowest level in over a half-century, the Labor Department said on Friday.
Employers still have plenty of demand for workers, despite aggressive efforts from the Federal Reserve to cool off the economy. The payroll gains are roughly in line with what economists expected.
The March gains are strong, but there are signs of a gradually cooling hiring trend. According to revisions from the Labor Department, the economy added 472,000 jobs in January and 326,000 payrolls in February.
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BREAKING:
The March Jobs Report comes in slightly below expectations on nonfarm payrolls, with unemployment coming in at 3.5% and labor force participation hitting a post-Covid high. @RickSantelli has the numbers: pic.twitter.com/45BfWkuU8y— Squawk Box (@SquawkCNBC) April 7, 2023
The latest jobs report is out, and it shows 236,000 jobs were added in March while unemployment dropped slightly to 3.5%.@LJMoynihan says the report is a positive sign for the economy.
Watch #MorninginAmerica:https://t.co/j43frjNQQk pic.twitter.com/loXCOstBRa
— NewsNation (@NewsNation) April 7, 2023
U.S. hiring gradually cooled in March as employers added 236,000 workers. The unemployment rate fell to 3.5%. https://t.co/ElsmfkzS9o
— The Wall Street Journal (@WSJ) April 7, 2023