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What a surprisingly strong March jobs report means in the face of war
The latest jobs report showed that the US economy likely added 178,000 jobs in March, nearly triple expectations.
The unemployment rate dipped to 4.3%. Forecasts had it holding steady at 4.4% or even rising to 4.5%.
Health care and social assistance was once again the workhorse sector, accounting for half of the month’s gains; however, job growth was the most widespread across industries since December 2023.
At first glance, Friday’s report from the Bureau of Labor Statistics showed that the labor market wasn’t on life support as previously feared, but rather was on solid footing at a much-needed time – when war-driven economic shocks and uncertainty loom large.
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