Job growth zoomed in March as payrolls jumped by 303,000 and unemployment dropped to 3.8%

Nonfarm payrolls increased 303,000 for the month, well above the Dow Jones estimate for a rise of 200,000.

The unemployment rate edged lower to 3.8%, as expected, even though the labor force participation rate moved higher to 62.7%.

Wages rose 0.3% for the month and 4.1% from a year ago, both in line with Wall Street estimates.

Health care led with 72,000 new jobs, followed by government (71,000), leisure and hospitality (49,000), and construction (39,000).

February was revised down 5,000 to 270,000
Job growth zoomed in March as payrolls jumped by 303,000 and unemployment dropped to 3.8%