The U.S. quit rate is strangely steady

Data: BLS via Federal Reserve Bank of St. Louis; Chart: Axios Visuals

U.S. labor market bounces back with 196,000 jobs in March

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.