The Bureau of Labor Statistics reported Friday that nonfarm payroll employment increased by 431,000 in March and that the unemployment rate declined to 3.6 percent.
The unemployment rate was 6.2 percent for Black workers, 4.2 percent for Hispanic workers, 2.8 percent for Asian workers and 6.8 percent (not seasonally adjusted) for American Indian and Alaska Native workers.
Congressman Don Beyer (D-VA-08), chairman of the U.S. Congress Joint Economic Committee, issued the following statement on the BLS report.
“In 2021, we saw the most jobs created in a single year, and March gains brought the total number of jobs added under President Biden to 7.9 million, an average of 565,000 jobs added per month. Ninety-three percent of the jobs lost due to the pandemic have been regained, the unemployment rate is nearly at pre-pandemic levels and unemployment claims are near 50-year lows—all signs that our labor market is impressively healthy.
“Far from guaranteed, the strength of both the labor market rebound and our overall economic recovery are the result of the American Rescue Plan and other emergency pandemic relief, including the widespread availability of coronavirus testing and vaccinations. Getting the pandemic under control and ensuring workers, families and businesses could stay afloat through the worst economic crisis since the Great Depression put us on the path to the record-breaking gains we’ve seen over the last year.
“It has not been without challenges. Weak supply chains, corporate concentration and inflation, which has been exacerbated by Putin’s invasion of Ukraine and supply center shutdowns in China, are depriving workers of the full benefits of our robust recovery.
“But we have a blueprint for lowering household costs on the biggest-ticket items and advancing an economy in which growth is stronger, stable and more broadly shared. This week, President Biden released a fiscally responsible budget that centers investments in workers and families to drive economic growth and shared prosperity.
“To ensure our recovery reaches those who have been historically marginalized, we, in Congress, must redouble our efforts to pass legislation that addresses the vulnerabilities laid bare by the coronavirus pandemic, mitigates the impact of climate change and ensures all workers can fully participate in the economy.
“The recently passed bipartisan Infrastructure Investment and Jobs Act was a first step, and the bipartisan innovation bills, which invest in domestic manufacturing, innovation and American competitiveness, are key to building a better America. I look forward to working with my colleagues in Congress to deliver these commonsense investments.”
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