Private payrolls rose by 145,000 in March, below expectations

US monetary policymakers have spent the last year trying to tame inflation with higher interest rates to slow hiring, and shed jobs. and curb spending. That may finally be happening, and with it, fears of a recession. Private sector job growth rose by 145,000 in March. That's below analyst expectations. Meanwhile, annual pay went up by 6.9 percent, down from 7.2 percent in February. New hires were evenly split between the services and manufacturing sectors, despite the dominance of the service sector in the US labor market. Leisure and hospitality saw additional hires, while the financial industry lost workers. US Fed Chairman Jerome Powell has pushed to put the US economy in a medically induced coma to ease price increases. Waking it back up is another question, and some analysts worry he won't be able to.
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