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03.04.26 - 15:36
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March Jobs Shocker: Payrolls Soar By 178K Most Since 2024, Blowing Away All Estimates; Unemployment Rate Drops (ZeroHedge)
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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 which added 186K in March, far above estimates of 78K. Government workers continued to drop, sliding by 8K in March and now negative 8 of the past 9 months,
This was not only higher than all estimates but was a 3 sigma beat to the median forecast, something we haven't seen in over a year.
In keeping with tradition, the previous month's data was revised sharply negative, from -92K to -133K, despite expectations of an upward revision. ...
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03.04.26 - 15:00
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US jobs market surpassed expectations in March but February losses were worse than first reported (The Guardian)
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Employers added 178,000 new jobs in March and unemployment rate fell to 4.3%, ahead of economists' predictionsSign up for the Breaking News US email to get newsletter alerts in your inboxThe US labor market picked up in March as employers showed signs of resilience amid the US-Israel war in Iran.After an extraordinary contraction in February, employers added 178,000 jobs last month, ahead of economists' expectations of about 70,000. Continue reading......
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