WASHINGTON, D.C. — U.S. employers added 178,000 jobs in March, reversing February’s drop and beating economist forecasts while the unemployment rate edged down to 4.3%, according to Reuters, CNBC, NPR, PBS NewsHour, ABC News, and Fox Business. Each of the bullet points immediately below have been confirmed by at least four of the six respected sources we curated on this story.
- Total nonfarm payroll employment increased by 178,000 in March after a revised February decline of 133,000, far above consensus expectations near 60,000.
- The unemployment rate dipped to 4.3% from 4.4%, but the labor force shrank by roughly 396,000 people and the participation rate fell to 61.9%.
- Health care led hiring with about 76,000 jobs added, including a boost from workers returning after a prior strike.
- Construction added about 26,000 jobs and transportation/warehousing added about 21,000, while federal government payrolls declined by 18,000.
- Average hourly earnings rose 0.2% month over month and 3.5% year over year, while the average workweek slipped to 34.2 hours.
Additional Details Reported
Why economists called the rebound uneven
Reuters reported the March payroll rebound likely overstates labor-market strength because some gains reflected weather normalization and the end of a health care strike, while household-survey data were weaker.
NPR and ABC News both noted the survey period captured early March conditions, meaning the full economic impact of the Iran-related energy shock may not yet be visible in employment data.
What policymakers and markets are tracking
CNBC said futures markets continued to price a high probability that the Federal Reserve will hold rates steady through upcoming meetings despite the stronger headline payroll gain.
Fox Business reported wage growth and participation trends are central to that outlook, with economists warning that labor-market cooling could still intensify if energy-driven inflation pressures persist.
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