Employers in the U.S. added a healthy 236,000 jobs in March, suggesting 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.
The unemployment rate fell to 3.5 per cent, not far above the 53-year low of 3.4 per cent set in January. Last month’s job growth was down from February’s sizzling gain of 326,000.
The March job gain may lead the Fed to conclude that the pace of hiring is still putting upward pressure on wages and inflation, and that further rates hikes may be necessary.
When a central
