US adds surprise 228K jobs in strong March report

US employers added a surprise 228,000 jobs in March — much higher than analysts had anticipated in the last report before President Donald Trump unveiled his sweeping reciprocal tariff plan.

New payroll reports came in at 228,000, above last month’s 151,000 jobs and an especially robust figure considering significant federal layoffs from Elon Musk’s Department of Government Efficiency.

The unemployment rate ticked up slightly to 4.2%, from 4.1% last month, according to the Bureau of Labor Statistics. Analysts had expected the rate to remain unchanged.

Futures tied to the S&P 500, Dow Jones and Nasdaq 100, however, fell about 3% each as investors continued to fuel a sell-off.

Markets suffered as Trump’s extensive tariffs — including a 10% baseline tax and much harsher rates on many nations — stoked fears of inflation and even a possible recession.