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The March jobs numbers are in, and they are far better than economists’ estimates. Dow Jones estimated just 59,000 jobs would be added, but the Bureau of Labor Statistics data shows that number was actually 178,000.
This resulted in the unemployment rate inching down to 4.3%.
Healthcare saw much of the growth, with 76,000 jobs added in that sector. This follows the Kaiser Permanente strike in February, which caused the healthcare sector to take a big hit. Construction and warehousing also saw gains of 26,000 and 21,000 respectively.
Government jobs also fell by 18,000, reflecting the Trump administration’s goal of cutting down the size and spending of the federal government.
Former Trump economic advisor Steve Moore spoke about the jobs number on Fox Business, saying: “It appears that employers and businesses believe that Trump is right—that we’ll get the Strait of Hormuz open, that this is a temporary shock to the economy, and that we’ve got smooth sailing ahead.”