The News
The US economy added 228,000 jobs last month, according to government data released Friday, exceeding expectations.
March’s gains surpassed the 151,000 jobs added in February and the 140,000 predicted by many economists.
Federal government employment declined by 4,000 in March, down from 11,000 in February, amid major layoffs by Elon Musk’s Department of Government Efficiency, while the unemployment rate rose only slightly to 4.2%.
The report comes as the Federal Reserve considers its response to US President Donald Trump’s “Liberation Day” tariffs, which have raised US recession fears. Goldman Sachs analysts said that while the strong jobs figures would ease concerns of an “immediate softening in the US labor market,” the tariff blitz would mean more uncertainty going forward.
“This report isn’t likely to be seen as more important than the trade war,” one analyst said.