In March, non-farm payrolls in the United States unexpectedly increased by 228,000, and the unemployment rate slightly rose to 4.2%.
In March, employment in the United States grew more than expected, with non-farm employment increasing by 228,000 people, and the unemployment rate slightly rising to 4.2%. The labor market remains strong, but in the face of recession risks and inflationary pressures, the Federal Reserve may need to consider cutting interest rates. The healthcare, transportation, and leisure and hospitality sectors were the main drivers of job growth, retail employment rebounded, while non-farm employment in the federal government saw its first consecutive decline since 2022.