US Adds 228,000 Jobs in March, Unemployment Rises to 4.2%

The U.S. economy added 228,000 jobs in March, significantly surpassing expectations of 140,000 and marking an increase from February's revised figure of 117,000, despite an uptick in the unemployment rate to 4.2%. This report coincided with market turmoil triggered by President Trump's announcement of extensive tariffs, causing significant stock market declines. Analysts warned that the new tariffs could lead to inflation and potentially a recession, impacting future job growth. The labor market's resilience is notable, especially against a backdrop of federal layoffs and strikes earlier in the year, although confidence among consumers has waned. Wage growth also slowed to 3.8% year-over-year, raising concerns about inflationary pressures. While the job numbers are a positive sign, the overall economic outlook remains uncertain due to external factors like tariffs and market reactions.