April 4 (UPI) — U.S. non-farm payrolls grew by more than expected in March, according to a Friday report from the Bureau of Labor Statistics.
The monthly employment situation summary showed that the U.S. economy added a higher-than-expected 228,000 jobs in March. Unemployment rose to 4.2%.
“Job gains occurred in health care, in social assistance, and in transportation and warehousing. Employment also increased in retail trade, partially reflecting the return of workers from a strike. Federal government employment declined.”
The Dow Jones estimate for March was 140,000.
“Today’s better-than-expected jobs report will help ease fears of an immediate softening in the U.S. labor market,” said Goldman Sach’s Lindsay Rosner in a statement. “However, this number has become a side dish with the market just focusing on the entrée: tariffs.”
The drastic tariffs and the trade war they have triggered has sent stocks plummeting, creating huge uncertainty about the eventual impact on job growth and the economy.
As companies react to the tariffs and the higher prices they will cause some may reduce hiring amid fears of a possible recession as the tariffs shock reverberates through the U.S. and global economies.
Unemployment edged up to 4.2%, but it has stayed between 4.0% and 4.2% since May 2024, according to the BLS.
The 228,000 March jobs was higher than the average job gain of 158,000 over the past 12 months.
Federal government employment was down 4,000 in March, but that number doesn’t include federal workers who no longer have jobs but are collecting severance or are on temporary paid leave.
Challenger, Gray & Christmas reported Thursday that March layoffs were at 275,240, a 60% increase in layoffs from February driven by DOGE sweeping cuts in federal jobs.
The March jobs growth included 54,000 in health care and 24,000 in retail. Social assistance jobs were up by 24,000.
Transportation and warehousing created 23,000 jobs.
