Washington (EFE).- The unemployment rate in the United States fell one tenth in March and stood at 3.5%, according to data published by the Bureau of Labor Statistics (BLS).
In the third month of the year, 236,000 new jobs were created, 75,000 fewer than in February, while 5.8 million Americans are unemployed.
This slight reduction in unemployment comes after the rise that occurred in February, amid the effects that interest rate hikes by the Federal Reserve (Fed) are having on the labor market to curb inflation.
Although it is still a solid figure, the 236,000 jobs created are below the 311,000 in February, the 517,000 in January and also the average job creation in 2022, which was 401,000.
The number of unemployed fell from 5.9 million in February to 5.8 million in March, a month that saw an “upward trend” in job creation in leisure and hospitality, government and care of health, the BLS said.
Jobs were lost, however, in retail trade, the distribution of materials and gardening, and in the furniture and appliance trade.
These data are released in a delicate economic context, when all eyes are on the possible consequences of rate hikes for the US labor market.
The Fed announced in March a rise in interest rates of 0.25 points, which are located in a range between 4.75% and 5%, in the midst of the crisis caused by the collapse of two banks in the country and the bailout of a third.
It was the ninth rate hike in a year to combat inflation, although the hike was less than anticipated.
The interannual rate of inflation in the United States continued to fall in February, for the eighth consecutive month, and stood at 6%, four tenths below that of January.
The entry The unemployment rate in the US dropped one tenth in March to 3.5% was first published in EFE Noticias.