The United States added 228,000 jobs in March, far exceeding expectations and defying concerns over trade tensions amid sweeping policy changes under the Trump administration.Data released by the US Bureau of Labor Statistics (BLS) on Friday, April 4, showed that job creation in March was significantly higher than the 140,000 forecast by economists, and well above the 117,000 jobs added in February. However, February’s figure was revised downwards from an earlier estimate of 151,000.
Despite the robust hiring numbers, the unemployment rate inched up slightly to 4.2%, from 4.1% in the previous month, indicating a slight softening in labour market conditions.
Wage growth, a key metric for assessing inflationary pressure, came in at 3.8% year-on-year, marginally lower than the 4% recorded in February.
On a month-on-month basis, wages rose 0.3%, compared to a 0.2% increase in the previous month. The labour force participation rate also showed a modest improvement, rising to 62.5% from 62.4% in February.However, the report also flagged continuing job losses in the federal government sector. Federal employment declined by 4,000 jobs in March, following an 11,000-job cut in February.
These figures reflect the early impact of the newly established Department of Government Efficiency (DOGE), an initiative led by Elon Musk aimed at restructuring and streamlining federal operations.
Despite the robust hiring numbers, the unemployment rate inched up slightly to 4.2%, from 4.1% in the previous month, indicating a slight softening in labour market conditions.
Wage growth, a key metric for assessing inflationary pressure, came in at 3.8% year-on-year, marginally lower than the 4% recorded in February.
On a month-on-month basis, wages rose 0.3%, compared to a 0.2% increase in the previous month. The labour force participation rate also showed a modest improvement, rising to 62.5% from 62.4% in February.However, the report also flagged continuing job losses in the federal government sector. Federal employment declined by 4,000 jobs in March, following an 11,000-job cut in February.
These figures reflect the early impact of the newly established Department of Government Efficiency (DOGE), an initiative led by Elon Musk aimed at restructuring and streamlining federal operations.
The jobs report comes at a time when global markets remain volatile due to President Donald Trump’s hardline trade stance.
US stocks opened sharply lower for a second straight day as China hit back with retaliatory tariffs, intensifying fears of a prolonged trade war. The Dow Jones plunged over 1,000 points (2.2%), the S&P 500 dropped 2.3%, and the Nasdaq Composite slid 2.8%, following their worst session since 2020.
Beijing’s move came in response to President Trump’s latest tariff hikes, sparking fresh concerns among analysts about a potential US recession.
