US job market remains strong, wages outpacing inflation, data shows
Newsy
The new job figures show wages are outpacing inflation, but many Americans believe the economy is not in good shape.
The U.S. labor market continued its consistent growth in March as 303,000 jobs were added, the Bureau of Labor Statistics said.
The unemployment rate fell from 3.9% in February to 3.8% in March, marking 26 consecutive months it's been below 4%, the longest such period of low unemployment in more than five decades.
The largest job gains in March were in the health care sector, with the addition of 72,000 jobs. There were also 71,000 new government jobs in March, the majority in the education sector.
The hospitality industry is back above pre-pandemic levels as it added 49,000 jobs.
Average hourly earnings went up 12 cents between February and March, and average weekly earnings increased by over $7 per worker between months. The average weekly wage for U.S. workers is $1,193.34, up from $1,185.75.
