US added 178,000 jobs in March, more than expected

The U.S. added 178,000 jobs in March, beating expectations before escalating tensions with Iran and rising oil prices. The unemployment rate decreased from 4.4% to 4.3%. Job gains were mainly in healthcare, construction, and transportation.

The Atlanta Federal Reserve lowered its GDP estimate to 1.9%. Rising gas prices could reduce consumer spending by hundreds of dollars annually. Economists note that existing economic headwinds are worsening.

The jobs market is described as a “no-hire, no fire” environment, with hiring at a historic low of 3.1%.

Public approval for President Trump’s handling of the economy continues to decline, with only 31% approving of his economic performance.