U.S. Job Growth Soars in March; Unemployment Drops to 3.8%
- Nonfarm payrolls increased 303,000 in March, blowing past expectations of 200,000 jobs added
- Unemployment rate fell to 3.8% from 3.9% in February
- Average hourly earnings rose 0.3% and were up 4.1% year-on-year
- Average workweek rebounded to 34.4 hours from 34.3 hours
- Labor force participation rate rose to 62.7%, showing room for more job growth