America’s employers added a solid 236,000 jobs in March, suggesting that the economy remains on solid footing despite the nine interest rate hikes the Federal Reserve has imposed over the past year in its drive to tame inflation.
“Today’s report is a Goldilocks report,’’ said Daniel Zhao, lead economist at Glassdoor. “It’s hard to find a way it could have been better. We do see that the job market is cooling, but it’s still resilient.’’
“The labor market continues to soften," said Sinem Buber, an economist at the job firm ZipRecruiter. ”That should reduce inflationary pressures in the coming months and give the Federal Reserve greater confidence regarding the inflation outlook.’’ Though unemployment remains higher for people of color than for white Americans, the unemployment rate for Black workers fell last month to 5% — the lowest jobless rate for African Americans in government records dating to 1972.
Twiddy & Co. has sharply raised entry-level pay for seasonal workers — it hires 500 to 600 a year — to $18-$20 an hour from $13-$14 in 2019. For his 175 full-time employees, Twiddy has offered perks — from allowing flexible work-at-home schedules to taking the staff on group trips to Nashville and Las Vegas.
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