Headline RoundupApril 5th, 2024

March Job Growth Beat Expectations

Summary from the AllSides News Team

The U.S. economy added 303,000 jobs in March, according to the Labor Department.

The Details: The growth beat Dow Jones economists' expectations of 200,000 jobs added. The unemployment rate was 3.8%, down slightly from 3.9% in February. Industries with the most job growth in March included healthcare (72,000 jobs added), government employment (71,000), and construction (39,000). The labor force participation rate was 62.7%, up slightly from February and near where it's been for the last year. In February 2020, the rate was 63.3%, and dropped to 60% when the COVID-19 pandemic began.

For Context: Monthly reports on job growth are watched closely by the Federal Reserve as it considers whether to hold or cut interest rates.

How the Media Covered It: As it often does when covering these reports, Fox Business (Lean Right bias) placed the data in the context of "high interest rates and stubborn inflation" while saying March's report underscored "the resilience of the labor market."  Left- and center-rated sources tended to be more positive. CNN Business (Lean Left) said job growth "remains plentiful at American businesses." CNBC (Center) said the growth "easily topped expectations in a sign of continued acceleration for what has been a bustling and resilient labor market."   

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