In March, the Bureau of Labor Statistics reported that the U.S. economy added 228,000 jobs, surpassing the forecast of 135,000. This substantial increase exceeded the average of 158,000 monthly job gains over the past year. Major sectors contributing to this growth included health care, social assistance, transportation, warehousing, and retail. However, the unemployment rate rose slightly to 4.2 percent, within a tight range that persisted since May 2024. The number of people wanting jobs but not currently in the labor force and those desiring full-time work remained stable, highlighting ongoing labor market dynamics.
In March, the U.S. economy added 228,000 jobs, beating expectations, while sectors including healthcare and retail observed the biggest employment gains.
Despite the significant job growth, the unemployment rate slightly increased to 4.2 percent, remaining within the 4.0 to 4.2 percent range since May 2024.
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