Employers added 431,000 jobs in March as COVID-19 eased, inflation spiked and market volatility continued. The unemployment rate fell to 3.6%.
Another positive: Payroll additions for January and February were revised up by 92,000. The upgrades pushed January's advance to 504,000 despite widespread omicron-related worker absences.
The number of people who couldn't look for work because of the pandemic fell to 874,000 from 1.2 million in February, Labor said, Farooqi, among other economists, said the strong report bolsters the Federal Reserve's case for a half percentage point interest rate increase in May in an effort to curtail inflation. That would be the largest increase in more than two decades.
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