so that was the point of this $80 billion cash infusion so that they could plan maybe it will really happen this time. alright the jobs report just in a couple of hours ago 236,000 new jobs added in march the unemployment rate down to 3.5, which is very low. white around expectations. so what does this all mean? i think in general, the report was pretty good on its own terms. there were some really good numbers under the hood. also so black unemployment is at its lowest rate on record the labor force participation rate, so that s the share of people in the workforce, particularly the share of prime working age people of people aged 25 to 54 that s back where it was pre pandemic. so a lot of good stuff. it s backward looking, though. i mean, all of these reports are always backward looking, and a lot has changed in the last month, given the banking turmoil, given a lot of other indicators we ve seen about, for example, jobless claims going up, so we don t know what that means. i have he
inflation and a strong jobs market joining me now is nbc s business and data reporter brian cheung walk us through these numbers and what it means for the economy. there s a lot of numbers. 236,000 jobs added in the month of march, how does that compare to previous months it s a bit of a slower pace compared to the over 300,000 we saw added in the month of february this is still what a lot of economists would consider to be a healthy clip of adding jobs. now, where do we see the job gains specifically in this economy? we saw a lot in bars and restaurants, leisure and hospitality adding about 72,000 jobs in the month. we also saw some job gains in health care adding about 34,000 jobs not all industries saw gains in the month of march when you take a look at retail trade, for example, actually contracting by about 15,000 jobs this would be jobs at the mall, for example. now, the story on the way to market still looks good with the unemployment rate at 3.5%. when you take a look at wher
historically low unemployment rates which sit at 3.5% but the pace of job growth for the last six months on average has been about 330,000 jobs. this month in march we saw it as 236,000 jobs so that is slowing somewhat. certainly not fast enough for the federal reserve that is really trying to slow down the economy. really trying to slow down the economy- really trying to slow down the econom . , ., , . ~ really trying to slow down the econom . , ., , ., , economy. the question is back orders from the pandemic economy. the question is back orders from the pandemic being economy. the question is back orders from the pandemic being filled, - economy. the question is back orders from the pandemic being filled, the i from the pandemic being filled, the post pandemic crunch coming to an end or is it to do with the fact that higher interest rates are perhaps starting to strangle economic growth to a degree and what this will mean for the us federal reserve and its next big interest rate
3.5% and when you look down through breaking it down by race, the unemployment rates for hispanics and blacks both fell by .7% last month. a short time ago, president biden said in a statement that, quote, thanks to the policies we have put in place, the recovery is creating good jobs that you can raise a family on, which is pulling more americans into the labor force. with us now is nbc news business and data reporter brian cheung good morning what are the biggest takeaways from this jobs report? yeah, good morning, jose. there is a lot of numbers. let s contextualize it a little bit. 236,000 jobs added in the month of march that s a slower pace than the over 300,000 we saw in the month of february. but overall the picture still lacks good with the unemployment rate at 3.5% and you see some groups were getting the benefit of that. you mentioned the black unemployment rate at 5%, higher than this, but 5% is the lowest we have ever seen for the black
released, showing u.s. added 236,000 jobs, lowest growth since december of 2020. ainsley: lower than the economists were expecting of 239,000, unemployment edged down to 3.9%. will: brian brenberg, a little off, but not much. brian: it has come down. watch the trend, it is ticking down and that is consistent with data we ve been seeing, more layoffs in first quarter of this year. seen job openings come down and jobless claims rise. look at this number and you see the downward trend, which you should expect. interest rates are going up, the economy is slowing, this is the number we ve been waiting for given everything we are hearing, we are seeing it now. will: does this tell you the