US economy adds 431,000 jobs in March: government

The United States added 431,000 jobs in March and the unemployment rate fell to 3.6 per cent, bringing the labour market closer to where it was before the COVID-19 pandemic began, the government said on Friday.

While payroll growth was slightly below analysts’ forecasts, the unemployment rate dipped more than expected and is now near the 3.5 per cent level seen in February 2020, before the mass layoffs that occurred as COVID-19 broke out nationwide.

The number of unemployed people declined to six million, according to the Labour Department report, just above its 5.7 million level before the pandemic, while the number of people whose employment ended involuntarily or who completed a temporary job was 1.4 million, also close to where it was in February 2020.

However, the number of employed people was still 1.6 million short of its pre-pandemic level, the data said.

Employment gains were widespread last month, with the leisure and hospitality sector, which encompasses the bars and restaurants that bore the brunt of the pandemic’s layoffs, adding 112,000 positions.

Professional and business services firms added 102,000 jobs in March, retailers added 49,000 and manufacturing gained...