US Adds 178,000 Jobs in March, Unemployment Falls to 4.3%

The U.S. Bureau of Labor Statistics reported Friday that employers added 178,000 jobs in March, nearly triple the consensus forecast of around 60,000, while the unemployment rate unexpectedly fell to 4.3 percent. The figures, released in Washington, D.C., signal a rebound from February's weather-disrupted slowdown and highlight a labor market holding firm amid geopolitical tensions and policy shifts.

The March gains were concentrated in a few sectors, with health care and social assistance leading by adding 76,000 positions, including about 31,000 workers returning after a strike at Kaiser Permanente facilities. Construction contributed 26,000 jobs, partly aided by improved weather, and transportation and warehousing added 21,000. Federal government employment declined by 18,000, continuing a trend of workforce reductions. Overall, private-sector payrolls rose by 186,000, though broader metrics showed mixed signals. Average hourly earnings increased 0.2 percent for the month and 3.5 percent year-over-year, the slowest annual pace in recent years, indicating cooling wage pressures.

Revisions to prior data added nuance to the picture. February's job losses were adjusted downward...