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In Long Beach, California, job seekers flocked to a Veteran Employment and Resource Fair. The photo captured by Eric Thayer/Bloomberg/Getty Images shows the event well-attended. Despite high interest rates and inflation, the US job market continues to thrive with employers adding 303,000 jobs in March and the unemployment rate falling to 3.8%. This exceeds economists’ expectations and demonstrates the resilience of the US labor market.
The US job market has been expanding for an impressive 39 consecutive months, making it one of the strongest historically. The unemployment rate has been below 4% for 26 months, marking the longest streak since the late 1960s. With a stronger-than-anticipated jobs report and bumpy inflation data, controlling rising prices could be complicated for the Federal Reserve. This could potentially delay rate cuts according to Greg Daco, chief economist at EY-Parthenon.
The ongoing story highlights the growth of opportunities in the US job market while showcasing the strength of the economy. As needed, this article will be updated to provide latest information on this topic.
