Reuters
U.S. economy not letting war, pandemic get in the way of a good time
WASHINGTON (Reuters) -Fear that the war in Ukraine would tilt the U.S. economy towards a 1970s-style bout of stagflation has given way to signs that Americans plan to keep traveling, returning to restaurants, and continuing a steady if still incomplete return to “normal.” The latest nonfarm payrolls report released Friday showed employers added 431,000 jobs in March and the unemployment rate fell to 3.6%, continuing a strong run of hiring that has left key aspects of the U.S. labor market “little different” from where they were before the pandemic, the Bureau of Labor Statistics reported. An additional nearly 600,000 people were employed or looking for work in March compared to the month before, adding to a recent steady rise in labor supply that Fed officials see as key to helping ease inflation, keeping hiring on track, and avoiding a joint run-up in both wages and prices.
