US labor market showed unexpected strength in March, with non-farm payrolls rising by 228k, well above the consensus estimate of 128k. Growth was also notably stronger than the prior 12-month average of 158k.
The robust job gains highlight continued resilience in hiring, even amid heightened uncertainty surrounding trade policies and financial conditions.
Unemployment rate ticked up slightly from 4.1% to 4.2%, marking the upper end of its recent range, though the increase was accompanied by a modest uptick in labor force participation to 62.5%.
Average hourly earnings rose 0.3% month-over-month, aligning with expectations, suggesting that wage pressures remain steady.
