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The U.S. economy closed out a quarter marked by whiplash in the labor market, as hiring surged one month and sagged the next.
Employers added 178,000 new jobs in March, according to new Bureau of Labor Statistics data released on April 3.
Prior to the nonfarm payrolls report, economists had forecast a more modest reading of 60,000.
The unemployment rate also dipped to 4.3 percent last month, from the 4.4 percent registered in February.
Markets had projected the jobless rate holding steady at 4.4 percent.
It was a turbulent first quarter as employment data whipsawed between strike-driven losses, persistent tariff concerns, and weather-related rebounds. These conditions have offered a distorted view of the U.S. labor market, further complicating the Federal Reserve’s policymaking efforts….
Employers added 178,000 new jobs in March, according to new Bureau of Labor Statistics data released on April 3.
Prior to the nonfarm payrolls report, economists had forecast a more modest reading of 60,000.
The unemployment rate also dipped to 4.3 percent last month, from the 4.4 percent registered in February.
Markets had projected the jobless rate holding steady at 4.4 percent.
It was a turbulent first quarter as employment data whipsawed between strike-driven losses, persistent tariff concerns, and weather-related rebounds. These conditions have offered a distorted view of the U.S. labor market, further complicating the Federal Reserve’s policymaking efforts….
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