Here comes the jobs report…

american flag construction workersDavid McNew/Getty

  • 196,000 jobs were added in March, the BLS said Friday.
  • That comes after an unexpectedly weak gain of 33,000 nonfarm payrolls a month earlier.
  • Wages rose 3.2% from a year earlier, a slightly slower pace than in February. 

Offering the latest snapshot of the American economy, the official employment report out Friday showed hiring rebounded last month and that wage growth eased.

The Bureau of Labor Statistics said the economy added 196,000 nonfarm payrolls in March, bouncing back from gains that were far smaller than expected a month earlier, and that the unemployment rate held steady at 3.8%.

Average hourly earnings rose 3.2% from a year ago, accelerating at a slightly slower pace than a month earlier.

In February, the US created far fewer jobs than expected. The nonfarm payroll increase of 33,000 was far below economist expectations and raised concerns that the labor market could be cooling.

Growth is widely expected to slow over the next two years in the US and other major economies. But so far, nonfarm jobs have increased by a solid 180,000 on average over the past three months.

The labor market pulled fewer Americans from the sidelines in March. The labor-force participation rate fell slightly to 63.2%, low by historical standards and compared with other countries.