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Scott Horsley

The job market is cooling as higher interest rates and a slowing economy take a toll

Interest Rates Sarah House Unemployment United States US Federal Reserve

A call for employment sign is displayed at a Taco Bell in Austin, Texas, on March 10, 2023. The labor market is slowing as higher interest rates start to filter through the economy. (Brandon Bell/Getty Images)

The U.S. job market is showing signs of softening as rising interest rates and slowing economic growth begin to take their toll on hiring.

Employers added 236,000 jobs in March, according to a report from the Labor Department Friday. That's down from 326,000 jobs that were added the month before.

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