Employers established 303,000 new jobs in March

Image courtesy of MGN

By Zhihao Zhu

US employers added 303,000 new jobs last month, a lot more than expected, which is hoping to help overcome inflation and bolster the US economy. 

It brought the unemployment rate down to 3.8 percent in the previous month, according to a report Friday by the US Bureau of Labor Statistics. This adds to the longest streak of unemployment being under 4 percent in five decades.

“This was a very strong jobs report across a variety of metrics,” Nick Bunker, an economic research director at Indeed, said to the Washington Post. “It gives really positive implications for the short-term health of the labor market and the labor market’s capacity to bounce back from the pandemic.”

This comes at the time of the nearing November 2024 presidential election. President Joe Biden described in a statement that this increase in employment in the economy correlates to how his policies are working, according to Boston.com.

“Today’s report marks a milestone in America’s comeback,” Biden addressed in his statement on the report. “Three years ago, I inherited an economy on the brink. With today’s report of 303,000 new jobs in March, we have passed the milestone of 15 million jobs created since I took office.”