The report released by the US Bureau of Labor Statistics just moments ago showed that 228,000 jobs were added in March, compared to the revised 117,000 jobs added in February, better than market expectations of 137,000 jobs added.

Meanwhile, the unemployment rate rose 0.1% to 4.2%, while expectations had indicated it would remain unchanged at 4.1% in February. The labor force participation rate rose to 62.5% from 62.4% in February.

Hourly wages held steady at 0.3% on a monthly basis, while the February reading was revised to 0.2%.

The annualized rate fell to 3.8% from 4.0% in February, exceeding expectations.

In terms of sector details, the goods-producing sector added approximately 12,000 jobs, the construction sector added 13,000 jobs, the manufacturing sector added approximately 1,000 jobs, and the services sector added approximately 197,000 jobs.