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The US economy beat analyst predictions by adding 196,000 jobs in March, according to data just released by the Bureau of Labor Statistics.
Wages also increased 3.2 percent over a year ago and rose by 0.14 percent in March. The unemployment rate remained steady at 3.8 percent, holding steady at a near 49-year low.
The strong economic performance cooled recession fears anticipated by Wall Street after a dismal February that only gained 20,000 jobs. The slow jobs activity in February was called a fluke by the White House due to the partial government shutdown and weather-related issues.
Analysts say this signals the labor market will remain stable enough to support economic growth in the coming months. The historic lows of unemployment also are a sign that bodes well for consumer spending.
