U.S. non-farm payrolls rose by 178,000 in March 2026, significantly beating economist estimates of a 59,000 to 65,000 gain. This increase marks a sharp rebound from February’s downwardly revised loss of 133,000 jobs.
March 2026 Employment Summary
- Non-farm Payrolls: +178,000 (Actual) vs. +59,000 to +65,000 (Expected).
- Unemployment Rate: Fell to 4.3% from 4.4% in February.
- Average Hourly Earnings: Increased by $0.09 (0.2%) to $37.38; up 3.5% year-over-year.
- Labor Force Participation: Remained at 61.9%.
Sector Highlights
- Health Care: Added 76,000 jobs, largely driven by 35,000 workers returning from a strike at Kaiser Permanente.
- Construction: Gained 26,000 jobs as weather conditions improved.
- Transportation & Warehousing: Added 21,000 jobs, led by couriers and messengers.
- Federal Government: Lost 18,000 jobs, continuing a downward trend since late 2024.
- Financial Activities: Shed 15,000 jobs.
Market & Policy Impact
- Interest Rates: The strong data led markets to price out potential rate cuts for the remainder of 2026, with a 77.5% probability that the Federal Reserve will hold rates steady through the end of the year.
- Treasury Yields: Rose immediately following the release; the 10-year note yield climbed to 4.36%.
- Stock Market: Closed on Friday, April 3, 2026, for the Good Friday holiday.
Official data is provided by the U.S. Bureau of Labor Statistics (BLS).
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