US added 431,000 jobs in March in sign of economic health
FILE - A"now hiring" sign is posted in Garnet Valley, Pa., Monday, May 10, 2021. Job openings stayed at a near-record level in February, 2022, little changed from the previous month, continuing a trend that Federal Reserve officials see as a driver of inflation.
multiple times, perhaps aggressively, in the coming months. Those rate hikes will result in costlier loans for many consumers and businesses. In the meantime, worker pay raises, a response in many cases to labor shortages, are themselves feeding the economy's inflation pressures. Some economists sounded a note of caution, though, suggesting that the prospect of much higher borrowing rates engineered by the Fed will inevitably slow the job market and the overall economy.
“You can't keep adding 400,000 workers a month without running out of workers,'' said Reinhart, a former high-ranking Fed economist. In particular, Fichuk said, businesses need to draw more women back by, for example, offering flexible hours and childcare centers or stipends for childcare expenses.
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