The United States added 178,000 jobs in March after almost destroying as many the previous month, according to official data released on Friday showing a slight drop in the unemployment rate to 4.3%. The reported job creations are significantly higher than market expectations, which anticipated around 59,000, according to the consensus published by MarketWatch.
The data from the statistical service of the US Department of Labor (BLS) are often subject to significant revisions. They have also experienced sharp fluctuations in recent months, with both job creations well above expectations and spectacular destructions. Meanwhile, the unemployment rate has remained largely unchanged and is close to full employment.
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The February figures had a striking impact with 92,000 job losses announced. The updated data released by the BLS on Friday paint an even bleaker picture: 133,000 job losses. The period was notably marked by a strike in the healthcare sector and the affected workers were temporarily excluded from the statistics. The end of the strike led to a correction, although it does not fully explain the extent of the recovery. Jobs were also created in March in the construction and logistics sectors, as highlighted by the BLS.
