In March, the U.S. non-farm sector rebounded strongly, with the unemployment rate unexpectedly dropping.

The strong rebound in employment growth in the United States in March, coupled with an unexpected decline in the unemployment rate, indicates that the labor market in the United States is stabilizing during the outbreak of the Iran war. According to data released by the U.S. Bureau of Labor Statistics on Friday, nonfarm payroll employment increased by 178,000 in March, marking the largest increase since the end of 2024, higher than all the economists surveyed had expected. The decrease in nonfarm payroll employment in February widened. Economists generally expected to see a rebound in the job market in March after the end of the strike. In February, more than 30,000 healthcare workers went on strike, and the cold winter weather also led to a significant number of job losses. The strong growth in nonfarm employment in March may further strengthen the Federal Reserve's concern about inflation risks, as the rapid rise in energy prices triggered by the war in the Middle East has intensified these worries. After the data was released, U.S. Treasury yields rose slightly.