The U.S. economy added 215,000 jobs in March, which is a touch more than expected, according to economists. Some 14.4 million private sector jobs were added to the economy over the last 73 consecutive months, the lengthiest run in history. Manufacturing jobs fared the worst last month, losing 29,000 jobs -- the highest number of losses in the industry since December 2009.
The unemployment rate ticked up to 5 percent in March, due to an increase in the number of Americans actively seeking work. For the fourth consecutive month, labor participation has increased, reaching 63 percent in March.
Wage growth, however, continues to be a sore point for the economy, with, at 2.3 percent year-over-year, it hitting below targets.
"While these trends speak to the strength of the labor market recovery, more work remains to drive even faster wage growth, including investing in infrastructure and job training, implementing high-standards free trade agreements like the Trans-Pacific Partnership, and raising the minimum wage," Jason Furman, chairman of the Council of Economic Advisers, said.
January's jobs numbers were revised down by 4,000, while the figures for February were increased by 3,000.