Trump Reimburses Tariffs as US Adds 178,000 Jobs, Unemployment Falls in March

President Donald Trump on Friday touted an unexpectedly high March jobs report after February’s job losses.

« A very happy and blessed Good Friday to all, especially the 186,000 Americans who gained private sector jobs in March alone! » the president wrote on Friday. « My economic policies have created a huge, powerful engine of economic growth, and nothing can slow it down. »

Trump added that « Factory construction jobs are growing sharply as a result of rapid onshoring and increased investment generated by TARIFFS, while the trade deficit has narrowed by 52 percent per year! »

The United States added 178,000 jobs in Marchwhich includes 8,000 government job losses, according to the Bureau of Labor Statistics.

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The number is about three times higher than most economists predict.

The gains came after the country lost 133,000 jobs in February.

Unemployment also fell from 4.4 percent in February to 4.3 percent in March, while the share of adults in the labor force fell to 61.9 percent, the lowest since November 2021.

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Revisions were made to payrolls for the previous two months, and January’s report was revised up by 34,000 jobs from 126,000 to 160,000. the February report was revised by 41,000 jobs from 92,000 to 133,000.

In January-February, employment was a total of 7,000 jobs less than previously reported.

It is not clear how The Iran War This will affect the number of jobs going forward, as some economists say the March numbers may not fully reflect the new conflict in the Middle East.

“The data is mostly retrospective and likely does not include any impact from recent energy price increases or other energy-related risks. war in Iran« , Thomas Simons, chief economist at investment firm Jefferies, wrote in a comment.

The in the field of healthcare led March’s job gains and 76,400 new jobs after the Kaiser Permanente strike ended in February as workers returned to work.

“This year is likely to be a year of change in workforce dynamics artificial intelligence tilts the labor market, especially for low-skilled jobs. We continue to see healthy job opportunities for experienced workers,” said Jeffrey Roach, chief economist at LPL Financial.

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« Average hourly wages rose 3.5% from a year ago, giving consumers enough purchasing power to beat embarrassing inflation. This labor market update gives the Federal Reserve more time to wait for inflation to slow down before taking action, » Roach added.

The latest jobs data did little to change market expectations that Federal Reserve likely to leave interest rates unchanged for the foreseeable future.

Fox Business’ Eric Revell and The Associated Press contributed to this report.