US adds a healthy 236,000 jobs despite Fed’s rate hikes

WASHINGTON (AP) — America’s employers added a solid 236,000 jobs in March, reflecting a resilient labor market and suggesting that the Federal Reserve may see the need to keep raising interest rates in the coming months. The unemployment rate fell to 3.5%, not far above the 53-year low of 3.4% set in January. Last month’s job growth was down from February’s gain of 326,000. Friday’s (April 7, 2023) government report suggested that the economy and the job market remain on solid footing despite nine rate hikes imposed over the past year by the Fed.