March Unemployment was 5 percent, essentially unchanged from February’s 4.9 percent. | Getty Economy added 215,000 jobs in March

The economy added 215,000 jobs in March, the Labor Department reported Friday, down from 245,000 in February.

Unemployment was 5 percent, essentially unchanged from February’s 4.9 percent and average hourly private-sector earnings were up 7 cents. In February, they were down 2 cents.


Jason Furman, chairman of the White House Council of Economic Advisers, said March's job growth was "well above the pace necessary to maintain a low and stable unemployment rate" but noted "more work remains to drive even faster wage growth." He suggested raising the minimum wage and investing in infrastructure and job training could boost wages.

Republicans, however, were less impressed with Friday's jobs report. House Ways and Means Committee Chairman Kevin Brady (R-Texas) acknowledged March's job growth, but said "too many Americans remain on the sidelines." House Education and the Workforce Chairman John Kline voiced similar concerns. "Millions of workers are still looking for full-time jobs, and millions more are so discouraged by meager job prospects that they’ve given up on their search for work entirely," he said in a statement.

Analysts reacted positively to March's job growth.

"It's a very solid report," Michael Arone, chief investment strategist at State Street Global Advisors told CNBC, adding he was "not sure it's going to mean all that much to the market today."

Elise Gould, senior economist at the left-leaning Economic Policy Institute, said that while March's jobs numbers showed signs of improvement, "wage growth continues to be below target levels, a sign that there continues to be substantial slack in the labor market." She suggested the Federal Reserve continue to refrain from further interest rate hikes.

Analysts had predicted the creation of about 210,000 jobs, an unemployment rate of 4.9 percent and an increase in hourly earnings of 0.2 percent, according to a Bloomberg survey of economists. The payroll company ADP estimated Wednesday based on its own records that March job growth in the private sector was 200,000, a decline from its February calculation of 205,000.

The jobs report followed news last week from the Commerce Department that GDP increased 1.4 percent during the fourth quarter of 2015, a decline from the third quarter’s 2 percent, and that annual growth was 2.4 percent, according to a third estimate. Commerce’s first cut at estimating first quarter growth for 2016 will be released April 28.

Labor force participation remained low, at 63 percent, essentially unchanged from February’s 62.9 percent, close to its lowest level since the 1970s.

