Job growth among nonfarm payrolls was higher than expected.
According to a report from the U.S. Department of Labor, nonfarm payrolls increased by 215,000 in March, a sign the country’s economy is improving. The job growth comes as the unemployment rate rose to 5 percent in March, the first month-over-month rise since 2015.
“Beginning just a year after President Obama inherited the worst economic crisis in generations, businesses have been adding jobs at an extended, record-setting clip: a total of 14.4 million jobs over the last 73 consecutive months of private-sector job growth,” U.S. Secretary of Labor Thomas E. Perez said in a statement. "The March unemployment rate was little changed at 5.0 percent. The labor force participation rate and employment-population ratio are trending up, reaching two-year and seven-year highs respectively."
The job growth was a bit higher than expected, as Reuters would predicted a rise of 205,000. Perez went on to say they will continue to help the economy any way they can.
“We continue to do everything possible to strengthen the middle class and give working people the economic stability they deserve,” Perez said. “The wind is once again at our back; now we have to make sure it propels everyone forward. Building an economy that works for everyone – helping working people get a bigger slice of a growing pie they helped bake – is the unfinished business we will continue tackling in the remaining months of this administration.”