March employment higher than expected

The U.S. Bureau of Labor Statistics (BLS) reported Friday that total nonfarm payroll employment for March 2026 increased by 178,000, above previous projections for the month. The unemployment rate saw little change at 4.3%, from 4.4% in February.  

Despite this upswing, the BLS revised previous numbers from February resulting in about 7,000 fewer jobs than previously calculated for the first quarter.

"Hiring in March beat expectations, but revisions over the prior two months netted out to near zero, leaving first quarter job growth averaging just above 60,000 per month,” said America's Credit Unions Senior Economist Dawit Kebede. “This is a labor market consistent with low-hire and low-fire equilibrium. Unemployment rate declined slightly as participation rate declined one-tenth of percentage point. The Federal Reserve will likely hold rates for longer, especially as inflation risks rise. Credit unions remain a trusted financial partner for their members in this environment of rising uncertainty."