US adds 236,000 jobs in March amid signs of market cooling

Washington, April 8

The US economy added 236,000 jobs in March, signaling that the jobs market may be starting to cool, according to data released by the Bureau of Labour Statistics.

That's a significant drop from the previous month's gain of 311,000 jobs, reports Xinhua news agency.

The jobless rate for March slid slightly to 3.5 per cent from February's 3.6 per cent, the data showed on Friday.

In March, government employment increased by 47,000, health care added 34,000 jobs, and job growth also occurred in home health care services and social assistance, according to the Bureau.

Employment changed little in transportation, but job losses were recorded in retail trade, building material, furniture, home furnishings, electronics, and appliance retailers.

This occurred after around a year of aggressive rate hikes by the Federal Reserve, in a bid to battle the worst inflation in decades.