WASHINGTON–The employment numbers for March are stronger than many had expected, with the economy adding 228,000 new jobs.
That figure was up from the 117,000 jobs that had been added in February.
That was more than the 117,000 jobs added in February.
The Labor Department figures show the unemployment rate rose slightly to 4.2% from 4.1% one month earlier.
““The economy added 228,000 jobs in March, far surpassing consensus expectations. This brings the average job gain for the first quarter to 152,000—a strong pace of hiring,” Dawit Kebede, senior economist with America’s Credit Unions, said in a statement. “The impact of federal workforce cuts appears limited in the report, as employees on paid leave or receiving severance are still counted as employed. Additionally, court rulings have temporarily halted some layoffs. However, the recent escalation of the tariff war and rising recession concerns pose a threat to the labor market’s strength. A healthy labor market is crucial for the stability and success of credit unions’ operations.”
The Fields That Are Hiring
The new data show healthcare, social assistance and the transportation sector added jobs.
The jobs data for March, of course, were tallied ahead of President Trump’s new round of tariffs, which have sent the stock market tumbling and led analysts to predict waves of layoffs might lie ahead.
The Federal Reserve also recently cut its growth projections for 2025 at its most recent policy meeting, while raising its forecasts for the unemployment rate and inflation. The benchmark federal-funds rate remains between 4.0% and 4.5%. The Fed will next meet Jan. 6-7.
