The unemployment rate in the United States fell one tenth in March and stood at the 3.5%, According to published data, this Friday, April 7, by the Bureau of Labor Statistics (BLS).
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In the third month of 2023 236,000 new jobs were created, 75,000 less than in February, while 5.8 million Americans are without a job.
This slight reduction in unemployment comes after the rise that occurred in February, in the midst of the andeffects What are the rises in interest rates by the Federal Reserve (Fed) having on the labor market? to curb inflation.
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Although it is still a solid figure, the 236,000 jobs created are below the 311,000 in February, the 517,000 in January and also the average job creation for 2022, which was 401,000.
The number of unemployed fell from 5.9 million in February to 5.8 million in March, a month in which a “Upward trend” in job creation in leisure and hosteleria, government and health care the BLS said.
Jobs were lost, however, in the retail commerce, the distribution of materials and gardening, and in the trade of furniture and household appliances.
The unemployment rate is 5% for African Americans, 4.6% for Hispanics, 3.2% for Whites, and 2.8% for Asians.
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It’s a statement, US President Joe Biden He said the employment data is “good” and shows that the US economy is in “a position of strength.”
The president claimed that his policies have achieved “a historic economic recovery“, with the creation of 12.6 million jobs since he came to power in 2021.
However, the Democratic leader warned that the Republicans, who control the majority of the House of Representatives, put “at risk” economic advances.
These data are released in a delicate economic context, when all eyes are on the possible consequences of rate hikes for the US labor market.
The Fed announced in March a rise in interest rates of 0.25 points, which are located in a range between 4.75% and 5%, in the midst of the crisis caused by the collapse of two banks in the country and the rescue of a third.
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It was the ninth rate hike in a year to combat inflation, though the rise was less than had been anticipated.
The annual rate of inflation in the United States continued to decline in February, for the eighth consecutive month, and stood at 6%, four tenths below that of January.
EFE
