Report | United States Employment Update - March 2017
Both January and February have posted gains of more than 200,000 jobs this year, bringing year-to-date employment growth to 473,000 net new jobs, up 18 percent from this time last year. As expansion in the labor force occurred slower than jobs were being created, unemployment fell once again to 4.7 percent. Gains have been relatively diversified, while a contraction in retail trade was countered by improvements in a broad swath of industries. Along with the labor market, numerous economic indicators remain positive. Consumer confidence surpassed its 15-year high reached in December, while initial unemployment claims continue have fallen to below 240,000 in recent weeks. Upbeat labor-market and economic indicators, particularly inflation, further the case for the Federal Reserve to raise interest rates in the short term.
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