March jobs report to expected to show if hiring boom slowed

March jobs report to expected to show if hiring boom slowed

NEW YORK (NewsNation) — Amid waves of layoffs, economists predict that Friday’s U.S. Labor Department’s job report will show that the nation’s economy added 240,000 jobs in March.

That would be a step down from February when the economy added 311,000 more jobs.

Economists expect the unemployment rate to hold at around 3.6%.

The Federal Reserve has been trying to cool off what has been a hot market by raising interest rates.

The move seems to be working with the Department of Labor reporting Thursday, jobless claims are up with Americans filing 142,000 first-time unemployment claims over the last three weeks.

There’s been a recent wave of layoffs in the tech and finance sectors, and companies like Walmart and McDonald’s have also announced job cuts.

Yet, those 55 and over are enjoying the hiring spirit as the fastest-growing segment of the workforce.

Employers have said that although there can be learning curves for the age group, they’re among the most reliable and responsible people in the workforce, which makes them very attractive to employers who say younger workers like to call out, show up late and do more scrolling on their phones than working.

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