U.S. March Jobs Report Beats Expectations, Unemployment Steady at 4.2%

U.S. March Jobs Report Beats Expectations, Unemployment Steady at 4.2%

Transportation and warehousing also outperformed, with a 23,000-job gain—nearly double the sector’s prior monthly average. Couriers and messengers added 16,000 jobs, while truck transportation rose by 10,000. These gains were partially offset by a 9,000-job loss in warehousing and storage.

Retail Employment Rebounds After Strike Impact

Retail trade added 24,000 jobs, largely due to the return of food and beverage store workers (+21,000) following a strike. However, job losses in general merchandise (-5,000) highlight uneven performance across the subsector. Overall retail employment has shown little net change over the past year.

Wage Growth Steady; Prior Revisions Temper Enthusiasm

Average hourly earnings rose by 0.3% to $36.00, with annual wage growth at 3.8%. Production and nonsupervisory workers saw a 0.2% increase to $30.96. While…
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