US Unemployment Rate Falls to 3.5%

Howdy — Sun, 09 Apr 2023 02:35:01 +0000

Cetoex News – In what seems to be a positive sign for the labor market in the country, the US unemployment rate has fallen to 3.5%, against 3.6% in February. Moreover, economists had projected the rate to stand firm from its February number, showing slight unexpected strength.

Additionally, the Bureau of Labor Statistics (BLS) reported the labor market added 235,000 jobs in March. Conversely, projections maintained higher expectations, forecasting 239,000 jobs to hit the market in March, versus the February gain of 326,000.

US Jobs Market Continues to Stand Firm

In recent months, all eyes have been on the US economy, and its ability to weather a host of storms. Whether it be continued macroeconomic pressures in the form of inflation, the national debt debate raging, or a budding banking crisis leading to the largest banking closures since 2008.

Yet, the labor market has remained a point of optimism for economists, and decision-makers on Capitol Hill. Now, the number for March has shown that US unemployment has fallen to 3.5%. Solidifying what was a marginal dip from the February number of 3.6%.

Source: Investopedia

This is the final BLS report the Federal Reserve will observe before their meeting scheduled for May 2-3. Moreover, they will be tasked with the vital decision of whether or not to continue their year-long interest rate hikes to fight inflation. Conversely reports from earlier this week showed US job openings fell to 9.93, which was lower than expected.

Alongside the data provided, revisions were noted to previous statements. Specifically, the recent report stated that employment in both January and February is combined to equal 17,000 lower than had been reported.

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US Unemployment Rate Increases to 3.6%

Howdy — Sat, 11 Mar 2023 02:09:04 +0000

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Despite adding a wealth of jobs in the month of February, the US unemployment rate has increased to 3.6%. Specifically, the US Bureau of Labor Statistics employment summary of the month showed the addition of 311,000 jobs, which exceeded expectations by more than 200,000.

Conversely, the unemployment rate was projected to maintain the January rate of 3.4%. Moreover, the statistics show that the average hourly earnings have also increased to 4.6% over the past 12 months. Minorly exceeding the projections of some.

US Unemployment Rate Increases

The current economic state of America has been a source of great concern for some. As the Federal Reserve continues its attempt to lower inflation rates, they have assured citizens that it will continue. Moreover, the national debt has already surpassed its ceiling, with potential default on the horizon with catastrophic consequences.

Now, with all eyes on the labor market, the US unemployment rate has increased to 3.6%, which is greater than many projections. Conversely, the news arrives despite the same report showing that 311,000 jobs were added in February. Exceeding the projects by more than 200,000.

Source – Wallpaper Flare

The report states that “notable job gains occurred in leisure and hospitality, retail trade, government, and health care.” Additionally, noting that “employment decline in information and in transportation and warehousing.”

Alongside the rising employment rate, the report also states that the number of unemployed people has increased in the month to 5.9 million. However, note that “these measures have shown little net movement since early 2022.” Conclusively, the month saw average hourly earnings rise by a minimal 8 cents. Conversely, over hte past 12 months, that number has risen by 4.6 percent.

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US Unemployment Rate – CetoEX News Inform Trends & Happenings

US Unemployment Rate Falls to 3.5%

US Jobs Market Continues to Stand Firm

US Unemployment Rate Increases to 3.6%

US Unemployment Rate Increases