Key Takeaways:
- The number of job listings have decreased from February 2023.
- This is good news for Americans struggling to keep up with inflation, as now the Fed can start to lower interest rates.
- The economy is finally headed in the right direction.
As expected the nonfarm payrolls in March 2023 decreased compared to February’s 326,000. This is good news all around for the Fed, who’s hopes were that the labor market would cool in order to settle inflation across the United States.
According to the U.S. Labor Department’s job report for March 2023, employers added 236,000 jobs and the unemployment rate is 3.5%. This is the lowest monthly gain since December 2022. According to economists, the labor market is heading in the right direction.
Stay tuned for more valuable data insights and predictions for Greenwich HR. Interested to know how your company can gain valuable key insights of the labor market? Learn more about our compensation and labor insights today and stay tuned for the October pre-job report.
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