Iran · Federal Reserve (FED) · Axios
U.S. economy publishes stronger-than-expected 178,000 jobs in March
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The labor market snapped back with 178,000 jobs added in March, while the unemployment rate ticked down to 4.3%, the government said Friday.
Key facts
- The Bureau of Labor Statistics said on Friday that the economy shed 133,000 jobs in February, 41,000 more than initially reported
- The labor market snapped back with 178,000 jobs added in March, while the unemployment rate ticked down to 4.3%, the government said Friday
- The Iran conflict has raised fresh inflationary concerns as an energy shock ripples across the global economy, creating a new tension for the Federal Reserve worried about the labor market
- Hiring boomed after shedding jobs in February, suggesting a steadying labor market as the Iran war injected fresh uncertainty into the economic outlook
Summary
Hiring boomed after shedding jobs in February, suggesting a steadying labor market as the Iran war injected fresh uncertainty into the economic outlook. The data captures the first full month of hiring since the Iran war began, offering an early read on how businesses are responding to the shock. The economy added nearly three times as many jobs as economists expected. The Bureau of Labor Statistics said on Friday that the economy shed 133,000 jobs in February, 41,000 more than initially reported.