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Data: Bureau of Labor Statistics; Chart: Axios Visuals

The economy added 196,000 jobs in March — topping economists' forecasts of 175,000, and a big rebound from February's weak report, the Labor Department said on Friday. The unemployment rate held at 3.8%, while wages grew 3.2% from the prior year — a slightly slower pace than last month.

Why it matters: This month's report, which shows that the economy added an additional 13,000 jobs in February than initially estimated, proves the jobs market is still chugging along for now.

  • "The economy has been adding jobs faster ... which is staggering considering how far along we are in post-recession recovery," said Steve Rick, chief economist at CUNA Mutual Group.

Details:

  • Job growth averaged 180,000 per month in the first quarter of 2019. That's lower than the average 223,000 per month in the same time period last year, but still strong.
  • The number of people jumping in or out of the labor force didn't budge much. The labor force participation rate — or the share of the population working or looking for work — fell slightly to 63% from the 63.2% in February.

The bottom line: March marks the 102nd straight month of job gains. The question for months has been how much longer the stretch of impressive job growth can go on before the labor market taps out, which would have implications for the Fed and an economy that's feared to be slowing.

  • Economist Justin Wolfers tweets, in part: "If anything, the concern has to be that ongoing jobs growth of nearly +200k per month is going to be hard to sustain with the unemployment rate below 4% ... it's great that it's happening, but the Fed's going to be worried that it's happening too quickly."

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Updated 19 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 3 p.m. ET: 12,794,395 — Total deaths: 566,210 — Total recoveries — 7,033,187Map.
  2. U.S.: Total confirmed cases as of 2 p.m. ET: 3,278,946 — Total deaths: 135,066 — Total recoveries: 995,576 — Total tested: 39,553,395Map.
  3. States: Florida smashes single-day record for new coronavirus cases with over 15,000 — Miami-Dade mayor says "it won't be long" until county's hospitals reach capacity.
  4. Public health: Ex-FDA chief projects "apex" of South's coronavirus curve in 2-3 weeks — Coronavirus testing czar: Lockdowns in hotspots "should be on the table"
  5. Education: Betsy DeVos says schools that don't reopen shouldn't get federal funds — Pelosi accuses Trump of "messing with the health of our children."
4 hours ago - Health

Florida smashes single-day record for new coronavirus cases

Data: Covid Tracking Project; Chart: Axios Visuals

Florida reported 15,299 confirmed coronavirus cases on Sunday — a new single-day record for any state, according to its health department.

The big picture: The figure shatters both Florida's previous record of 11,458 new cases and the single-state record of 11,694 set by California last week, according to AP. It also surpasses New York's daily peak of 11,571 new cases in April, and comes just a day after Disney World reopened in Orlando.

Pelosi: Trump is "messing with the health of our children" with push to open schools

House Speaker Nancy Pelosi said on CNN's "State of the Union" Sunday that Education Secretary Betsy DeVos' aggressive push to fully reopen schools this fall is "malfeasance and dereliction of duty," accusing the Trump administration of "messing with the health of our children."

Why it matters: Trump has demanded that schools reopen as part of his efforts to juice the economy by allowing parents to return to work, despite caution from health officials that little is known about how the virus impacts children.