The Bureau of Labor Statistics reports that the American economy added 236,000 jobs in the month of March and the unemployment rate ticked down to a near-historic low of 3.5 percent.
A few more data points:
The Black unemployment rate sank to 5 percent in March, the lowest point on record.
Most of the job growth occurred in food services and drinking places, where employment rose by 50,000 in March.
The labor force participation rate continued to trend up in March hitting 62.6 percent, a post-COVID high.
Since President Biden took office, 12.6 million jobs have been added to the U.S. economy averaging about 345,000 over the past three months.
Click here for the full report.
The March Jobs Report comes in slightly below expectations on nonfarm payrolls, with unemployment coming in at 3.5% and labor force participation hitting a post-Covid high. @RickSantelli has the numbers: pic.twitter.com/45BfWkuU8y
— Squawk Box (@SquawkCNBC) April 7, 2023