The Federal Reserve’s quarterly report for March shows the economy is slowing down and the number of jobs created in March has dropped.
The Fed’s quarterly update shows that employers added only 1.1 million jobs in March, which was a decline of 2.9 percent from February.
The jobs report showed that employers lost 657,000 jobs in April and May, and added 671,000 in June.
The report says that employers are losing jobs at a faster rate than they have in any quarter since 2010.
The economy has been in a deep recession for the past year and a half, with the economy contracting by a staggering 11 percent in the first quarter of this year.
Inflation has also risen sharply.
