The U.S. labor market rebounded strongly in March, adding 178,000 jobs while unemployment fell to 4.3%, according to the Bureau of Labor Statistics. The job gains were nearly three times higher than economists expected, following a revised loss of 133,000 jobs in February.
The March data represents the first full month of hiring since the Iran war began, providing an early indicator of how businesses are responding to geopolitical uncertainty. February's job losses were attributed to a healthcare strike and cold weather conditions that temporarily depressed hiring.