The Trump administration’s policy changes have not impacted the U.S. labor market.
The U.S. labor market remained robust in March amid market turmoil and growing economic concerns, new data show.
Last month, the economy created 228,000 new jobs, up from a downwardly adjusted 117,000 positions in February. This is higher than the average monthly gain of 158,000 over the past 12 months and came in much higher than the consensus forecast of 135,000.
The unemployment rate ticked up to 4.2 percent from 4.1 percent.
According to FactSet, the median estimates indicated 130,000 new jobs and an unemployment rate of 4.2 percent.
Average hourly earnings rose by 0.3 percent monthly, in line with market expectations. On a year-over-year basis, the increase in average hourly earnings eased to 3.8 percent from 4 percent.
The labor force participation rate edged up to 62.5 percent from 62.4 percent. Average weekly hours were unchanged at 34.2, matching the market estimate.
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