US Economy Adds 178,000 Jobs in March, Rebounding From February Losses

Nonfarm payrolls rose by 178,000 in March, well above the 59,000 consensus estimate, and the unemployment rate edged down to 4.3%. Health care led gains with 76,000 new positions, followed by construction and transportation. However, the labor force shrank by 396,000, partly accounting for the unemployment rate decline. The report suggests labor market stabilization even as the Iran war introduces economic uncertainty, though the data largely predates the conflict's most severe energy market impacts.