The US Department of Labor announced employment figures on Friday, signaling the strength of the US economy. A total of 196,000 jobs were added in March, and economic analysts said the figure would add another 170,000 jobs. The Ministry of Justice added the number of jobs available in January and February from 20,000 to 33,000.
The gains made by increasing the number of jobs will help to defeat doubts that the economy will be affected. “We think the labor market is the strongest thing in the US economy right now,” said Luke Tilley, chief economist at Wilmington Trust. “We’re encouraged by the wage gains.””We think the labor market is the strongest thing in the US economy right now,” said Luke Tilley, chief economist at Wilmington Trust. “We’re encouraged by the wage gains.”
Economists said the March jobs report, which indicates that the economy is growing at a steady rate and will not cause inflation to rise, supports the Fed’s stance. “Do not tell the Fed that it is doing the wrong thing by staying patient,” said Ellen Zentner, chief US economist at Morgan Stanley. “But he also tells the Fed that there is nothing in the data telling him that rates should be lowered now
