CBS Evening News 04.01.22

By one measure the American economy is surging to the level not seen since March, 2020. Today’s job report from the Labor Department show employers are added another four hundred thirty-one thousand jobs in March, and the unemployment rate fell to a pandemic low of 3.6%. The Labor Department also revised its ??? estimate from January and February showing an additional ninety-five thousand jobs. But by other measures, the US economy is stuck in a rut, rising inflation, supply chain bottleneck, the pandemic and war in Ukraine have their own way to contribute to higher prices at gas station and grocery store. For some of the Americans these price increases have negated higher wages. But despite these challenges, the Labor Market has remained resilient, with employer adding more than four hundred thousand jobs for eleven straight months. In fact, some sectors of the economy now employ more people than prior to the pandemic.

America is back in business, most Covid restrictions are gone now, businesses are ramping up and they are hiring. Today, President B was quick to take credit. Americans are also back in the move, some of the strongest job gains are in leisure and hospitality. At the same time, employers can’t fill job fast enough, there are nearly two job openings for every unemployed worker and people are still quitting jobs at near record rates, roughly forty-seven million last year. Overall, average wages are up 5.6% over last year. Right now, inflation is the number one concern across the country, a new gallop poll reviews said that Americans are more concern about the inflation now than at any time since 1985.

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