Overview
- The Labor Department's report Friday showed payrolls rose by 178,000 after a revised loss of 133,000 in February.
- Health care added about 76,000 jobs, including roughly 31,000 Kaiser Permanente workers returning from a strike, highlighting how gains leaned on that sector.
- The jobless rate fell as about 396,000 people left the labor force, while average hourly earnings rose 0.2% on the month and 3.5% over the year.
- Federal employment fell by 18,000 in March and is down about 355,000 since October 2024, even as construction and manufacturing posted modest gains.
- Economists warn the U.S.–Israel conflict with Iran and higher oil prices could weaken hiring as soon as April because costlier fuel squeezes family budgets and raises business transport costs, and investors have trimmed expectations for Federal Reserve rate cuts this year.