The unemployment rate fell to 3.6 percent, the lowest since February 2020.
Businesses are also raising pay; nearly half of American small businesses say they upped wages last month. Overall, wages rose 0.4 percent last month, and 5.6 percent over the past 12 months.
But inflation is near 8 percent, according to the consumer price index. That means real wages actually fell for the year.
Inflation could be forcing more people back to work; 420,0000 workers joined the labor force. That’s as states like Iowa, West Virginia, and Kentucky are cutting the length of time you can receive benefits for.
NTD spoke with Julia Pollak, chief economist at Zip Recruiter, about job openings and immigrant labor.
