ECONOMY

Sat 08 Apr 2023 1:03 pm - Jerusalem Time

The job market is improving for the second month in a row in the United States

The employment sector in the United States improved for the second month in a row, according to government data Friday.
And 236,000 jobs were created in March, compared to 311,000 jobs in February, a number close to experts' expectations.
The unemployment rate fell to 3.5 percent, according to a report by the Ministry of Labor.


This data comes days after other reports showed an increase in employment in the private sector and the services sector, while the manufacturing sector remained weak.


Average hourly earnings increased by 0.3% to $33.18, according to the data.


"Employment continued to increase in entertainment, hospitality, government, professional, business and healthcare services," the Labor Department said.


According to the report, the labor force participation rate continued to rise last month as well.


For his part, President Joe Biden said in a statement that the report "shows that we continue to face economic challenges from a position of strength," although he acknowledged that "there is more work to be done."


Labor market data is closely watched for its potential impact on the Federal Reserve's future interest rate decisions.
It is not clear if the latest numbers will be enough to lead to a pause in interest rate increases.

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The job market is improving for the second month in a row in the United States

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