Morning still carries quite a chill, but the winter is behind us for the most part. Birds are singing, plants are erupting with color and fragrance, and neighbors are mowing lawns at 6 am (seriously, why?). The US job market has shown another month of recovery in a similar return from hibernation.
You’re Hired! Unemployment rates dropped 0.2%, and the US added 431,000 jobs last month. The current 3.6% unemployment compares to the pre-pandemic low of 3.5%. Wages jumped 5.6% on the back of workers negotiating amid rapid inflation increases.
In addition to general improvements, data shows women are returning to the labor force and have reached the highest participation levels since February 2020. While 2.8M people are still missing work due to having or caring for family with covid, the number is down from 8.8M in January of this year.