Commentary Two important economic indicators recently released tell the same three-part story: the post-pandemic recovery continues to proceed nicely; the pace of growth is slowing, but that is to be expected; inflation shows no sign of abating. The first of these indicators is the Labor Department’s employment report. It shows that unemployment has continued to decline. The number of Americans unable to find work dropped in March by some 318,000 to 5.95 million, a 5.1 percent drop from February and a 9.0 percent drop from January. As a percent of the available workforce, the unemployment rate fell to 3.6 percent, down from 3.8 percent in February and way below the 6.0 percent rate recorded this time last year. Unemployment has finally approached the pre-pandemic and near-record low of 3.5 percent. Especially encouraging is the widespread nature of the gains. Adult male unemployment fell to 3.4 percent in March from 3.5 …