US jobs rebound in March with 178,000 payroll gains

The U.S. labor market rebounded in March, with employers adding 178,000 jobs and the unemployment rate slipping to 4.3%, according to the latest employment report.

The gain was stronger than expected and followed a revised February decline of 133,000 jobs. AP and Reuters both reported the March payroll number shortly after the Bureau of Labor Statistics release on Friday morning.

Reuters said the report showed downside risks are mounting from the war with Iran, but the labor data itself pointed to a still-resilient economy at the start of spring. AP described the jobs gain as surprisingly strong after the weak February reading.

The report is one of the clearest indicators of how the economy is holding up as markets face fresh geopolitical uncertainty and higher energy prices. The March numbers suggest employers were still hiring at a solid pace despite that backdrop.

Health care, construction and manufacturing were among the sectors contributing to the monthly gain, according to the coverage reviewed for this story.