Economic Buzz: US Non-Farm Payroll Employment Jumps By 431k In March

4 Apr 2022 , 08:35 AM

US non-farm payroll employment jumped by 431,000 jobs in March after surging by an upwardly revised 750,000 jobs in February, a closely watched report released by the Labor Department on Friday showed. While the job growth in March fell short of estimates, revisions to data for the two previous months showed employment increased by 95,000 more jobs than previously reported. The Labor Department said notable job gains continued in leisure and hospitality, professional and business services, retail trade, and manufacturing. The strong job growth still contributed to a drop in the unemployment rate, which dipped to 3.6 percent in March from 3.8 percent in February. The unemployment rate was expected to edge down to 3.7 percent.

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