The Mornings with Maria jobs panel responds to the big March report, in which the workforce crushes expectations, unemployment falls to 4.3% and experts weigh what this means for inflation, Fed policy and the path of the US economy.
American workers saw it rising wages in March, although the increases were lighter than expected and represented a slowdown from the previous month’s measurements.
The Bureau of Labor Statistics announced this on Friday The March jobs reportshowing that the U.S. economy added 178,000 jobs this month — better than expectations from economists surveyed by LSEG who expected a gain of 60,000 jobs.
The report shows that average monthly revenues increased by 0.2% and are 3.5% higher than a year ago. These figures were both lower than expected, as the LSEG survey estimated revenues would rise 0.3% from the previous month and 3.7% compared to last year.
These figures represented a slowdown in wage growth from those reported in February, when wages rose 0.4% from the previous month and 3.8% year-on-year.
THE US economy added 178,000 jobs in March, well above expectations
Wage growth slowed more than expected in March, while the average working week also fell. (Joe Raedle/Getty Images/Getty Images)
Furthermore, the report showed that the average working week was shorter than expected at 34.2 hours, below the 34.3 in February that economists surveyed by LSEG expected would also dominate in March.
The average hourly wage for private sector workers was $37.38 in March, up from $37.29 in February and $36.11 in March 2025.
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US investment analyst Bret Kenwell of EToro noted that while the overall jobs report was “encouraging” and provided some reassurance about the labor market, he noted that wages were one of “a few softer details beneath the surface.”
“Average hourly wages and hours worked both came off somewhat lightly, coming at a time when rising energy prices are essentially acting as an immediate trend. gas pump tax for consumers,” said Kenwell.
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Wage growth slowed in March and came in lower than expected. (Allison Joyce/Bloomberg via Getty Images)
Lydia Boussour, senior economist at EY-Parthenon, noted this average hourly wage “momentum lost” in what was a “softer than expected outcome”.
“With wage and job growth subdued, rising gasoline prices are adding to pressure by squeezing disposable incomes and further reducing household purchasing power. With labor market support already softer, this leaves consumer perspective more vulnerable,” said Boussour.
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She added that the company expects “a largely frozen labor market in 2026, characterized by selective hiring, compressed wage growth and strategic workforce adjustment, as labor supply remains historically under pressure.”
