Jaw-Dropping Jobs Report Destroys Democrat Narrative, Shows Trump Economy Heating Up

The U.S. labor market delivered a solid rebound in March, with hiring coming in far stronger than expected and snapping a brief downturn.

Employers added 178,000 jobs last month, easily topping forecasts for 59,000 and reversing February’s 133,000 decline, according to the Labor Department. Revisions showed a mixed but steady trend, with February cut by 41,000 jobs and January revised up to 160,000. The three-month average now sits at 68,000.

The unemployment rate edged down to 4.3%.

“The bottom line is March was somewhat encouraging, but it’s been a rocky year for the labor market with almost no hiring since last April,” said Heather Long, chief economist at Navy Federal Credit Union. “The March data will keep the Federal Reserve on hold, but no one is declaring victory yet. It’s likely to be a tough spring for job seekers.”

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Health care led the gains once again, adding 76,000 jobs. The sector rebounded after a February strike at Kaiser Permanente, with 35,000 workers returning to payrolls. Ambulatory health care services alone accounted for 54,000 of the increase.

Construction also posted solid growth, adding 26,000 jobs, while transportation and warehousing rose by 21,000.

Some areas saw declines, with federal government employment down 18,000 and financial activities slipping by 15,000.

Wage growth came in modest but steady, with average hourly earnings rising 0.2% for the month and 3.5% year over year. The average workweek edged down slightly to 34.2 hours.

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Markets were closed for Good Friday, though futures dipped slightly after the report, while Treasury yields moved higher ahead of an early bond market close.

The report underscores a labor market that continues to add jobs at a steady clip, even as the Federal Reserve weighs its next move on interest rates.

Policymakers have largely signaled patience, with markets pricing in little chance of a rate cut at the Fed’s late-April meeting and expecting the central bank to remain on hold through much of the year, according to CME Group data.

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