Washington. US employers laid off 4,31,000 people in March. Due to the decline in the number of people infected with COVID-19, the unemployment rate has also come down to 3.6 percent. This information was given by the Labor Department. Job growth has been particularly recorded in professional and vocational services, retail trade and manufacturing, according to a report released Friday by the Department of Labor Statistics (BLS).
The median hourly earnings of all employees on private non-farm payrolls rose 13 cents in March, up 0.4 percent to $31.73, a BLS report showed.
In the past 12 months, average hourly earnings have increased by 5.6 percent.
Recent labor market data showed the consumer price index rose 0.8 percent in February from the previous month, up 7.9 percent from a year earlier, the biggest 12-month increase in four decades.
Commerce Department data released on Thursday showed that core personal consumption expenditure (PCE), which does not include food and energy prices, grew by 0.4 per cent in February.
The BLS report showed that the unemployment rate dropped 0.2 percent to 3.6 percent in March, after a 0.2 percent drop in February.
—AnyTV News
read this also – Click to read the news of your state / city before the newspaper