March Jobs Growth Blows Past Estimates: What the Experts Are Saying

A whopper of a jobs report could complicate the Fed's rate-cut plans.

jobs report
(Image credit: Getty Images)

Jobs growth exceeded estimates by more than half in March, and that creates a problem. Bulls say moderating wage growth and an increase in the participation rate keep the Federal Reserve on track to reduce interest rates as soon as June, but bears contend the central bank is running out of time to enact three cuts before the end of the year.

U.S. nonfarm payrolls increased a whopping 303,000 in March, the Bureau of Labor Statistics said Friday, easily topping economists' estimate for the creation of 200,000 jobs. The unemployment rate, which is derived from a separate survey, ticked down to 3.8% from 3.9%, a two-year high. Unemployment remains at half-century lows. 

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Dan Burrows
Senior Investing Writer,

Dan Burrows is Kiplinger's senior investing writer, having joined the august publication full time in 2016.

A long-time financial journalist, Dan is a veteran of SmartMoney, MarketWatch, CBS MoneyWatch, InvestorPlace and DailyFinance. He has written for The Wall Street Journal, Bloomberg, Consumer Reports, Senior Executive and Boston magazine, and his stories have appeared in the New York Daily News, the San Jose Mercury News and Investor's Business Daily, among other publications. As a senior writer at AOL's DailyFinance, Dan reported market news from the floor of the New York Stock Exchange and hosted a weekly video segment on equities.

Once upon a time – before his days as a financial reporter and assistant financial editor at legendary fashion trade paper Women's Wear Daily – Dan worked for Spy magazine, scribbled away at Time Inc. and contributed to Maxim magazine back when lad mags were a thing. He's also written for Esquire magazine's Dubious Achievements Awards.

In his current role at Kiplinger, Dan writes about equities, fixed income, currencies, commodities, funds, macroeconomics, demographics, real estate, cost of living indexes and more.

Dan holds a bachelor's degree from Oberlin College and a master's degree from Columbia University.

Disclosure: Dan does not trade stocks or other securities. Rather, he dollar-cost averages into cheap funds and index funds and holds them forever in tax-advantaged accounts.