economy
US Jobs Market Surpassed Expectations in March but February Losses Were Worse Than First Reported
Employers added 178,000 new jobs in March and unemployment rate fell to 4.3%, ahead of economists’ predictions
TL;DR
- Employers added 178,000 jobs in March, surpassing expectations of 70,000.
- The unemployment rate decreased to 4.3% in March.
- February job losses were revised to be worse than initially reported.
- Total job cuts announced in the first quarter of 2026 were the lowest since 2022.
- Hiring in February slowed to a six-year low.
- The "quits rate" fell to 1.9%, the lowest since 2020, indicating workers are staying in their jobs.
- Overall job growth in 2025 was sluggish, with only 116,000 jobs added for the entire year.
- Consumer inflation has been volatile, and is expected to rise due to the US-Israel war with Iran, impacting oil prices.
- Average US gas prices exceeded $4 a gallon last month.