The U.S. labor market strengthened last month as the pandemic’s grip receded and more workers jumped back into the labor force, the Wall Street Journal reported. Employers added 431,000 jobs in March, as restaurants, manufacturers and retailers snatched up workers, and hiring in January and February was stronger than previously reported, the Labor Department said Friday. The report marked the 11th straight month of job gains above 400,000, the longest such stretch of growth in records dating back to 1939. The unemployment rate fell to 3.6% in March from 3.8% a month earlier, quickly approaching the February 2020 prepandemic rate of 3.5%, a 50-year low. Low joblessness is helping boost wages, though not enough to keep up with high inflation for many. COVID-19 cases of the omicron variant have declined sharply since late January, helping boost employer demand for labor, as more consumers are booking plane tickets, staying in hotels and dining out. The easing pandemic is also encouraging more people to seek jobs. One key example: The pandemic was less likely to deter work searches in March than just a month earlier. Nearly 900,000 people were prevented from looking for a job due to the pandemic in March, down from 1.2 million in February, the Labor Department said.
