April 2024 Employment Research

Immigration, Federal Aid Key Drivers Behind March’s Strong Hiring

March logs the 39th straight month of job gains. Employment growth reached a 10-month high in March as 303,000 positions were added, while the unemployment rate adjusted down to 3.8 percent. Hiring was most prominent in health care, government, construction, and leisure and hospitality. Additions in health care and leisure and hospitality, in particular, should help ease staffing shortages in these sectors further. Immigration has also been a significant contributor to the stronger-than-expected labor market over the last year. This factor can be difficult to measure and predict, but the unemployment rate among foreign-born residents sank to 3.6 percent in March.

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