Market Rebounds, Adding 196,000 New Jobs in March

US
Line workers smooth out the metal along the door frames on the flex line at Nissan Motor Co’s automobile manufacturing plant in Smyrna, Tenn., August 23, 2018. (William DeShazer/Reuters)

The job market rebounded in March, adding 196,000 new jobs and allaying fears that the ten-year expansion of the U.S. economy was nearing its end.

According to Bureau of Labor Statistics data released Friday, unemployment remained steady last month at 3.8 percent, while wage growth slowed, increasing only 0.14 percent from February. Wages were 3.2 percent higher year over year, as opposed to the 3.4 percent expected.

The February jobs report, which saw a mere 20,000 new jobs created out of a predicted 180,000, alarmed economists. But March’s favorable numbers eased some fears that the economy had begun to slip again, beating expectations and offering a 102nd consecutive month of positive job-creation numbers.

The economy added 16,000 construction jobs in March after losing 31,000 such jobs in February. 49,000 new health-care jobs, 34,000 new professional- and technical-services jobs, and 27,ooo new jobs at food and drinking establishments were also created. Meanwhile, 6,000 manufacturing jobs were lost.

As he has frequently done in the past, President Trump touted the positive numbers, tweeting them out and mentioning an increase in electrical-industry jobs in particular.

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