Labor Secretary Marty Walsh ackowledges there is 'work to do' on the jobs front, but argues overall the March employment report was 'strong.'growth in April, suggesting the labor market is still strong despite headwinds from rising interest rates, soaring inflation and a worsening labor shortage.
Employers added 428,000 jobs in April, the Labor Department said in its monthly payroll report released Friday, topping the 391,000 jobs forecast by Refinitiv economists. The unemployment rate, which is calculated based on a separate survey, held steady at 3.6%, the lowest level since February 2020.
Job gains were broad-based, with the biggest increases in the pandemic-battered leisure and hospitality industry , manufacturing and transportation and warehousing . Businesses are eager to onboard new employees and are raising wages in order to attract workers as they confront a labor shortage. There were roughly 11.5 million open jobs at the end of March – the highest on record – while the number of Americans quitting their job has also climbed to a new high.
Millions of workers are seeing the largest pay gains in years, as companies compete with one another for a limited number of employees: Wages climbed 5.5% in April from the previous year. While that's slightly lower than expected, it's still nearly double the pre-pandemic average of 3%. in nearly four decades that has pushed the price of everyday necessities like gasoline, clothing and food significantly higher.
BS
Hunter's 'LAP TOP FROM HELL' . Gasoline going to 6$, interest rates going from 3% to 6.5 %, 2 million migrants crossed over the U. S. Boarder not vetted or vaccinnated. Few Computer Chips available. 50,000 homeless living in L.A. Never so many empty Store fronts. 🦊 got you ?
I’m skeptical. This is the same administration that stole an election, says our southern border is secure, Hunter’s laptop is Russian disinformation and that our economy is smoking.
And the stock market fell! Demoncrats will end America! Horde, sell stocks and bonds! We are going down!
TraitorsSupportTraitorTrump GOPWarOnWomen
Biden will take a victory lap, and head to Delaware for the weekend. But let’s be real, the unemployment rate is a flawed statistic. People need to be looking for work to be included in this figure.
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