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3w ago

U.S. Economy Adds 228,000 Jobs in March, but Unemployment Rises to 4.2%

Labor market shows resilience with strong job growth, though higher unemployment and declining participation highlight ongoing challenges.

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U.S. President Donald Trump gestures while speaking during a “Make America Wealthy Again” trade announcement event in the Rose Garden at the White House on April 2, 2025 in Washington, DC.
The US economy added 228,000 jobs in March, according to government data
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Overview

  • The U.S. economy added 228,000 jobs in March, surpassing Wall Street's forecast of 140,000 and nearly doubling February's revised total of 117,000.
  • Unemployment rose to 4.2%, while the labor force participation rate declined to 62.5%, reflecting broader structural challenges.
  • Average hourly earnings increased by 0.3% in March but slowed to an annual growth rate of 3.8%, slightly below expectations.
  • Corporate layoffs surged, with March layoffs nearly doubling year-over-year to 172,010, driven in part by federal workforce restructuring.
  • Persistent inflation and tariff-related economic uncertainty make near-term Federal Reserve rate cuts unlikely, despite market speculation of potential easing later in 2025.