US adds 916,000 jobs in March
that were "likely weather-related", the report said.President Joe Biden on Friday called the March jobs report "good news", while noting that there are 8.4 million fewer jobs today than there were last March after "a year of devastation"."We still have a long way to go to get our economy back on track after the worst economic and job crisis in nearly a century," Biden said."Too many Americans who have been unemployed for longer than six months. Too many women have been forced out of the workforce. Unemployment among people of colour remains far too high."The President urged Congress to debate his $2 trillion infrastructure plan, touting that it would create millions of well-paying blue-collar jobs.The BLS report also showed that unemployment rate is down considerably from its recent high in April 2020 but is still 2.5 percentage points higher than its pre-pandemic level in February 2020.The number of people who permanently lost their jobs stood at 3.4 million, was little changed in March, but is 2.1 million higher than a year earlier, the report showed.Amid widespread shutdowns in March and April last year, 22 million Americans lost their jobs.US unemployment is expected to decline to 5.0 per cent by year-end and 4.4 per cent by the end of 2022, still higher than the pre-pandemic level of 3.5 per cent, according to the Peterson Institute for International Economics' semiannual Global Economic Prospects.
--IANS ksk/