The U.S. economy showed strong signs of growth in March, adding 228,000 jobs, according to the Bureau of Labor Statistics. This figure exceeded expectations, as analysts had predicted only 135,000 new jobs for the month.
The job gains marked a notable improvement over the average monthly increase of 158,000 seen over the past year. Key sectors contributing to this growth included health care, social assistance, transportation, warehousing, and retail. However, the federal government saw a decrease in employment, shedding 4,000 jobs, which is an improvement from the 11,000 job loss reported in February.
Despite the job growth, the unemployment rate rose slightly to 4.2 percent. Since May 2024, the unemployment rate has fluctuated within a narrow range of 4.0 to 4.2 percent.
The number of people not in the labor force but seeking work remained steady at about 5.9 million. Additionally, around 4.8 million part-time workers expressed a desire for full-time positions, indicating ongoing challenges in the labor market.
Overall, while the job numbers are encouraging, the slight uptick in unemployment and the stability in those seeking more work suggest there are still hurdles to overcome for many Americans.