The US Bureau of Labor Statistics report released moments ago showed that total non-farm payrolls (NFP) increased by 178,000 in March, compared to a revised 92,000 jobs added in February (revised down to a loss of 133,000 jobs). Expectations had anticipated an increase of 65,000 jobs.

Meanwhile, the unemployment rate fell slightly in March, by 0.01 percentage points, to 4.3%, compared to 4.4% in February, falling short of expectations. This coincided with a decrease in the labor force participation rate to 61.9% from 62.0%.

The average hourly earnings rate declined in March to 0.3% month-over-month, compared to 0.4% in February, while expectations had anticipated growth of 0.3%. Year-over-year, the average hourly earnings rate fell to 3.5%, compared to 3.8% in February.

In terms of sectors, the goods production sector added 43,000 jobs, the manufacturing sector added 15,000 jobs, and the construction sector added 26,000 jobs. In contrast, the private services sector added 186,000 jobs in March, led by the health care and social assistance sector, which added 89,000 jobs, and the transport and storage sector, which added 21,000 jobs.