US Adds 303,000 New Jobs in February as Unemployment Rate Remains Below 4 Percent

Published on April 5, 2024

The U.S. economy added a higher-than-expected 303,000 new jobs in March, while the unemployment rate was still below 4 percent, according to the Bureau of Labor Statistics (BLS). The labor market continues to remain resilient in a climate of high-interest rates and above-trend inflation. February job gains were revised down by 5,000 and the January numbers were adjusted higher by 27,000. Economists had projected 200,000 positions in March. The unemployment rate dipped to 3.8 percent in March, down from 3.9 percent. The consensus estimate was 3.9 percent. Employment gains were concentrated in health care (72,000), government (71,000), leisure and hospitality (49,000), and construction (39,000). Manufacturing did not add any new jobs last month....

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