Labor market adds 236,000 jobs in March, powering economy on

The unemployment rate ticked down to 3.5 percent last month, according to the Bureau of Labor Statistics, hovering near historic lows, as some employers have held onto workers in a tight labor market.

“Am I hoarding workers? You could say I’m guilty of that,” he said. “If the right person walked in the door today, we’d hire them even though we don’t necessarily need them. That is not something I’ve ever done before.” And while some of the country’s largest employers, including Walmart, McDonald’s, Microsoft and Amazon, are laying off thousands, the broader economy continues to add hundreds of thousands of jobs a month. Small businesses are making the bulk of those hires:Advertisement

“People are getting nervous,” he said. “They’re worried what interest rates are going to do, what the economy is going to do. They are being really, really careful about how they spend their money.”Although he would’ve ordinarily reacted by paring down staff — or at least pausing hiring — Rardon said that’s out of the question now. Instead, he’s boosting pay, offering $500 referral bonuses and providing free pizza, pasta and fried chicken on Fridays to keep his workers happy.

In other words wages will rise in bidding war and inflation will soar.

Another BidenWin 🤷🏻‍♂️ where’s SpeakerMcCarthy’s plan? POTUS is working for the people while GOPClownShowContinues DemsDeliverDemocracy

I thought the goal was to slow things down, so that inflation slows? Isn’t that why the Fed is raising interest rates? Seems like we are working at cross purposes here?

March marked the 27th straight month of job growth, according to data released Friday from the Bureau of Labor Statistics.

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US employers added 236,000 jobs in March in still-resilient labor marketUS employers added a solid 236,000 jobs in March in sign of a still-resilient labor market despite Fed rate hikes.
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