Economy Adds 196,000 Jobs in March, Exceeding Expectations

American hiring rebounded last month after an unusually weak job market in February, but signs still point to a gradual economic slowdown.

The US economy added 196,000 jobs in March, up from 33,000 the prior month. Despite a slight upward revision from the original estimate, February hiring remained the weakest since September 2017.
Meanwhile, the unemployment rate remained at 3.8%, a level near historic lows.

While March hiring was robust, it brings the first-quarter average to 180,000 jobs created per month, down from 223,000 per month on average in 2018....

Hiring rebounded strongly in March as employers added 196,000 jobs, easing fears that payroll growth is slowing sharply amid a cooling economy.

The unemployment rate was unchanged at 3.8%, the Labor Department said Friday.

Economists surveyed by Bloomberg had estimated 175,000 jobs were added last month.

Job gains for January and February were revised up by a modest 14,000.

After severe, weather-related swings in employment early this year, economists largely anticipated a return to normalcy in March. If anything, Goldman Sachs reckoned below-average snowfall would bolster job gains by about...