The U.S. labor market bounced back strongly in March, with job creation much stronger than expected though the broader picture of a slow-growth labor market held intact.
Nonfarm payrolls rose by 178,000 during the month, a reversal from the 133,000 decline in February and better than the Dow Jones consensus estimate for 59,000. February’s number was revised down by 41,000 while January was revised up by 34,000 to 160,000, putting the three-month average around 68,000.
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