The U.S. economy added 236,000 jobs in March, just shy of economists’ expectations.
The U.S. economy added 236,000 jobs in March, just shy of the 238,000 forecasted by economists who were polled by The Wall Street Journal. The unemployment rate declined to 3.5% in March from 3.6% in February.
The U.S. created an estimated 311,000 jobs in February and 504,000 in January. Both easily surpassed most economists’ expectations, and the latest figures are likely to trigger more concern at the Federal Reserve about inflation. “Although situations vary widely depending on locations and employment sectors, it is still a good time to look for work,” said Mark Hamrick, Washington, D.C., bureau chief at Bankrate.com. “The Labor Department says there were nearly 10 million job openings at last count, indicating about 1.7 jobs open for every unemployed individual.”
Storm clouds But there is a threat posed by storm clouds on the horizon. “This will likely be a more challenging job market for those graduating from colleges and universities this spring, depending on their majors and skill sets,” Hamrick said. “Technology, as we know, has been leading the charge on job cuts, and that condition may prevail for a while. [In the] longer term it will continue to be a vitally important part of the American and global economies.
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