US Economy adds 236K jobs in March amid signs of market cooling
US Economy adds 236K jobs in March amid signs of market cooling

WASHINGTON: US Economy adds 236Kjobs in March amid signs of market cooling. According to Bureau of Labour Statistics data, the US economy added 236,000 jobs in March, suggesting that the labour market may be slowing down.

That is a significant drop from the previous month's gain of 3,11,000 jobs, reports from Xinhua news read.

According to the data released on Friday, the unemployment rate for March decreased slightly from the 3.6% recorded in February to 3.5%.

According to the Bureau, there were 47,000 more posts in the government sector, 34,000 more in the healthcare sector, and there were also more jobs in social assistance and home health care in March. Transport employment barely changed, but job losses were noted in retail trade, building supply, furniture, and sellers of electronics and appliances. This happened after the Federal Reserve aggressively raised rates for almost a year in an effort to combat the worst inflation in decades.

According to Jim McCoy, senior vice president of ManpowerGroup, "industries that were having acute labour shortages, particularly hospitality, are actually making gains in getting the workforces that they needed back." "We observed some moderation in a few other areas, such as the government and the health care industry, and then essentially stability in the majority of the other sectors. Retail dropped 15,000, but overall I wouldn't consider it to be worrying at all; it's just a regular fluctuation over the course of a month. You have a couple decreases.

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