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March Jobs Shocker: Payrolls Soar By 178K Most Since 2024, Blowing Away All Estimates; Unemployment Rate Drops
March Jobs Shocker: Payrolls Soar By 178K Most Since 2024, Blowing Away All Estimates; Unemployment Rate Drops
We titled our nonfarm payroll preview post "a substantial bounce" and boy were we right: with consensus expecting a material rebound from February's negative print (which was revised as usual worse, from -92K to -133K), what the BLS reported instead was a huge beat to expectations of a 65K increase, with March jobs reportedly rising by 178K, the biggest increase since December 2024.
The number was driven entirely by a surge in private workers...
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